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Price Floors: The Minimum Wage

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Title:
Price Floors: The Minimum Wage
Description:

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.

Microeconomics Course: http://mruniversity.com/courses/principles-economics-microeconomics

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Video Language:
English
Team:
Marginal Revolution University
Project:
Micro
Duration:
09:46
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