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fixed price UK US 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.
Financial and business terms. 2012.