Should businesses cut prices to attract customers and help end a recession?Some Industries are slowing down price hikes. It's great for the the...

I think what you are really asking is whether price cuts
will help get economies out of recessions, not whether it is good for an individual
business to cut prices.  I have changed your question to reflect
this.

If businesses cut prices, it could stimulate an
increase in spending on the part of consumers.  Consumers might take the opportunity to
start buying again.  If they spend enough to make aggregate demand go up again, then it
is a good thing.

However, this depends on the level of
confidence that consumers have in the economy.  If consumer confidence is low, dropping
prices will not help.  Instead, it may actually hurt if consumers see it as a sign that
businesses are getting desperate.  If consumers feel this, they may fear that aggregate
demand is going down and that their own jobs will be in danger.  If this happens, then
aggregate demand will go down as consumers spend less and the economy will be in more
trouble than before.

So, the impact that lowering prices
has will depend largely on the mood of consumers and how the consumers perceive the
price cuts.