Uploaded January 2024 | Updated September 2026, 1 week ago

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Join Professor Matt Hill as he walks you through the classroom slides of Day 2: " Price Floors" from MRU's free "Price Ceilings & Price Floors" unit plan. Get the unit plan here: mru.io/pju

Learning Objectives:
- Define a price floor.
- Examine the effect of implementing a price floor on quantity supplied and quantity demanded.
- Discuss the unintended consequences of a price floor.
- Graph a price floor using a supply and demand graph.
- Identify a surplus created by a price floor on a supply and demand graph.
- Identify the welfare effects of a price floor.