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English definition of “fixed price”

fixed price

noun [C]     COMMERCE
a price that will not change after it is agreed : We agreed to purchase the finished goods at a fixed price . With a fixed-price contract , the builder pays all extra costs beyond its agreed-upon value .
a price that is set by a government , etc.: In this model , if the price of oil were to rise above the fixed price set by the U.S. government , the government would pay the difference .
(Definition of fixed price noun from the Cambridge Business English Dictionary © Cambridge University Press)
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