The minimum price and the maximum price for the marketplace items have to be set in order for the repricer to make sure when to stop repricing items. These are like thresholds.
The maximum price sets a cap (ceiling). The item will not be repriced above the maximum price
The minimum price will ensure that the price of an item does not drop below it.
There are 2 ways to set your marketplace item(s) minimum and maximum price
NOTE: The min & max prices set at the item level will be always take precedence over the min & max percentages set globally