Microeconomics - Chapter 04: Economic Efficiency, Government Price Setting, and Taxes

We are going to look closely at some of the market interventions to control prices and costs using political mandates while also seeking evidence to tell us who are really the beneficiaries and who are penalized.
Start with a couple terms you need to firmly commit to your memory.
A price ceiling is a legally determined maximum price that sellers may charge.
A price floor is a legally determined minimum price that sellers may receive.
This firmly addresses price ceilings for rent controls.
Governments use Price Ceilings to legislate the maximum rent landlord can charge tenants.

[@julzedwin3775]

I enjoyed this!

[@nickcherries]

love your lectures but not a big fan of fox business and their bias

[@dr.billschlosser7983]

Nick! I like the comment and agree that finding one specific outlet for their opinions is NOT the best approach. However, sometimes their analyses are spot on - so I use THOSE. Keep your eye on the message and delivery.