Price Ceilings and Price Floors
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2:16
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11.1 - Monopoly Production (1 of 2)by richardmckenzie17,482 views
@waleedjanzour refer to your notes on merit goods, externatilties and public goods.
yesiamdaz 1 year ago
cheers mate this really helped out with my studies!
proaussiegamer 1 year ago
The equilibrium point is the most EFFICIENT point of production, but it may not be the most EQUAL, or fair. I.e. m price ceilings are set to allow people who would not be able to afford a good to get it (think apartments in Manhattan, New York), and price floors are for producers who would not otherwise produce (think minimum wage). This is deemed to be more fair, but the politicians who don't know this cannot see the long term effects.
Kakarot21591 2 years ago
this will surely help me 4 my test 2morrow thanks 4 the vid
poshstars 2 years ago
the thing i don,t understand is why would the goverment do this..? since the market is in equilprium then all the quantity supplied is sold and all the quantity demanded is fullfiled, so why would the goverment make some of the quantity unsold or some of the demand unfullfiled
waleedjanzour 2 years ago
the thing that i don,t understand is that when the market is in equilpriuim it means that all the product supplied or produced is all sold and the demand is exactly the same as supply at that point which is fear for both sides, so why would the goverment would make something like this and make the good unsold which effects the producers profit, it seems there is a missing part on this
waleedjanzour 2 years ago
Helped alot thanks
afcs09 2 years ago
this is an excellent review! thanks!
emem293 2 years ago
great. you have made it quite easy for me. Thanks a lot.
insareee 2 years ago
wow so good, eventhough the board isnt that clear, you sur are clear lol.
thanks
locapequena 2 years ago