Question

7. What is administrative price ? ​

Answer 1

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An administered price is the price of a good or service as dictated by a government or centralized authority, as opposed to market forces of supply and demand. ... In market economies, certain administered prices can exist in the form of price ceilings or rent controls.

Answer 2

Answer:

Administrative price are price of good set by the internal pricing structure of firms that take into account cost rather than through the market forces of supply and demand and predicted by classic economies.