Price Ceilings & Price Floors: Microeconomics

[@miscella9193]

Thanks so much. I'm studying for a test in economics and this helps me understand a lot of stuff I wasn't able to in class.

[@timaimaserevi3599]

I'm studying for my economics test and this really helped me a lot thanxxxx....❤❤❤

[@consoledollz1688]

I'm taking a managerial economics course and my professor is assuming I know any of this stuff... I was about to cry until I found your video. I'm gonna watch all of your videos now and maybe I'll be more confident in this assignment.

[@basmalla1380]

thank you

[@MathiasSabey]

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[@carladaiz824]

You are amazing! ❤ Thank you 😊 I really understand it well ❤ God bless you 💕💖

[@1112FAM]

Great explanation tnx buddy❤

[@Allahu_Akbar_the_one]

I need to teach myself that supply and demand graph isn't like a slope

[@NuwenyineJunior-j3e]

Waò great message. I would like to have notes on this. Thanks

[@Mathway-yt7zz]

Thank you so much. This video was very helpful.

[@maearianboter6052]

thank you and God Bless

[@keabetsweditabe8136]

thank you...this video was so helpful

[@zelalemeyekoye249]

Be strong my brothet

[@serenegayathri4430]

Brilliant

[@thehighyeast1502]

thank you this makes sense

[@mahadiullah878]

hi, if the price is above the equilibrium why is does not matter. government imposes price selling below the equilibrium. Wouldn't that be illegal to sell above the price ceiling. Can you please explain me why it doesn't matter if goods are selling above the price ceiling even though government impose price calling beneath the equilibrium

[@liome8747]

It doesn't a matter for the firm because they will call on good price. The only prob , the customers would suffer and the Government can charge the firm just in case they violated the equilibrium rules.

[@ForrestSiminji]

Thats a situation of "black market".

[@madramaddie3820]

So does that mean that price ceiling favours consumers and price floor favors producers ?

[@denisasabic8716]

yes

[@thebasictrader5261]

Nope. This is another one kind of inefficiency wherein demand is greater than supply. This could result to a shortage if maintained for a long time and if the PC is too far from the equilibrium. Also Producers “might” lower the quality of their products since there is a guaranteed lower revenue. They should find ways to lower their costs. If price ceiling was imposed on a regular coffee, restaurant owners might remove their free wifi, they might turn off a one of their ACs, or worst they might lay off some employees just to lower their expenses. (anything that could lower their costs).

[@krutishah5757]

Great

[@jamesphillips4888]

Undernieth

[@krin5506]

nice

[@khushiaggarwal8718]

Well explained 👍

[@shahmirza3013]

neat

[@B_TV000]

👍

[@daphnebailey6223]

Im still confused.

[@cheerry7]

Are you ceiling gang?

[@MrSinn]

Absolutely not, floor gang all the way

[@arnav5581]

@@MrSinn what a chad