administered price

administered price definition - business

administered price

The price of a good or service that is established by an administrative process such as a government commission decision or business collusion. The federal minimum wage is an example of an administered price.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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