Price Floors: The Minimum Wage

Price floors, when prices are kept artificially high, lead to several consequences that hurt the consumer. In this video, we take a look at the minimum wage as an

Price floors, when prices are kept artificially high, lead to several consequences that hurt the consumer. In this video, we take a look at the minimum wage as an example of a price floor. Using the supply and demand curve and real world examples, we show how price floors create surpluses (such as a surplus in labor, or unemployment) as well as deadweight loss.

Download
Options
Translate Practice Questions

Contributed Content (0)

Ask a Question

 
Please register or login to answer a question
Please register or login to ask a question