Prices are "administered" when:
A) they fall below "suggested list price."
B) prices can change every time a customer asks for a price.
C) government regulators set prices.
D) firms consciously set their own prices.
E) they are set by bargaining between buyers and sellers.

Question

Quizplus · Accepted Answer

Administered prices are those that are consciously set by firms, rather than being determined by market forces or government regulation.

Prices Are "Administered" When