Investopedia explains 'Administered Price'
Price controls can specify a price ceiling (the upper limit of price) and a price floor (the minimum amount that can be charged for a good or service). Administered prices stabilize the costs of commodities such as sugar, staple foods, goods, and interest rates and fees, according to acceptable standards.
When supply and demand for the good change, the administered price may change to subsidize the supplier or protect the consumer.
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