In a cheap, shabby, or stingy manner; showing poor quality or unwillingness to spend properly.
From 'cheepy' (adjective form of cheap) + adverbial suffix '-ly'. Describes how someone acts when being cheap or miserly.
Adding '-ly' to adjectives is English's main way to make adverbs, which is why we can instantly understand 'cheepily' even if we've never heard it before—it's just the rule applied consistently!
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