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| Name | Price Floors: The Minimum Wage |
| Video Uploader | Video From Marginal Revolution University |
| Upload Date | This Video Uploaded At 26-02-2015 03:38:08 |
| Video Discription | 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. Try our price floors interactive practice: https://mru.io/hgr Microeconomics Course: https://mru.io/7mi Next video: https://mru.io/2a8 Help us caption & translate this video! http://amara.org/v/GLJa/ 00:00 Price floors 02:22 Surpluses 03:39 Minimum wage creates a surplus 04:46 Minimum wage 07:26 Minimum wages in France 08:23 Minimum wage creates lost gains from trade (deadweight loss) 09:18 Recap |
| Category | Education |
| Tags | supply | demand | economics | ceiling | floor | price |
