Price changed: price not right? Precarious situation! (9)
I believe the answer is:
precipice
'precarious situation' is the definition.
Although both the answer and definition are singular nouns, I can't understand how they can define each other.
'price changed price not right?' is the wordplay.
'changed' indicates an anagram.
'not' indicates named letters should be taken away.
'right?' becomes 'R' (common abbreviation).
'price' with 'r' taken away is 'pice'.
'price' with letters rearranged gives 'preci'.
'preci'+'pice'='PRECIPICE'
Can you help me to learn more?
(Other definitions for precipice that I've seen before include "Steep cliff face" , "Steep rock face" , "Sheer drop" , "Sheer cliff" , "Overhanging cliff or rock face" .)