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1. WATCH: video on price ceilings Watch this video explaining price ceilings with the example of a ceiling on gas prices. (https://www.youtube.com/watch?v=RBGHmCIBr9M) 2. WATCH: a

1. WATCH: video on price ceilings

Watch this video explaining price ceilings with the example of a ceiling on gas prices.

(https://www.youtube.com/watch?v=RBGHmCIBr9M)

2. WATCH: a video on price floors

This video explains price floors using the minimum wage for an example, and ends by showing the 'deadweight losses,' a concept you just learned last time in welfare analysis.

(https://www.youtube.com/watch?v=65kfAswiHLk)

NOTE: WATCH THOSE VIDIEOS AND MAKE SUMMARY (COMMENTS) ON IT.

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