IntroductionDefinitions and BasicsPrice Controls, from the Concise Encyclopedia of Economics Show
Rent Control, from the Concise Encyclopedia of Economics
Minimum Wages, from the Concise Encyclopedia of Economics
Agricultural Subsidy Programs, from the Concise Encyclopedia of Economics
In the News and ExamplesPolicy Debate: Does an increase in the minimum wage result in a higher unemployment rate? From swcollege.com.
Unintended Consequences, from the Concise Encyclopedia of Economics.
McKenzie on Prices, podcast on EconTalk. June 23, 2008.
Rent controls: David Henderson, podcast on EconTalk. July 30, 2007.
Rent controls in Mexico City: Tepito’s Way, by Ibsen Martinez on Econlib
Munger on Fair Trade and Free Trade, podcast on EconTalk. Dec. 3, 2007.
Munger on Price Gouging, podcast on EconTalk. Jan. 8, 2007.
Boettke on Katrina and the Economics of Disaster, podcast on EconTalk. Dec. 18, 2006.
Ticket Prices and Scalping, podcast on EconTalk. July 16, 2007.
A Little History: Primary Sources and ReferencesDefense of Usury, by Jeremy Bentham.
Advanced ResourcesMunger on John Locke, Prices, and Hurricane Sandy. EconTalk Podcast.
Related TopicsSupply and Demand, Markets and Prices Which of the following are price ceilings?A price ceiling is a legal maximum on the price at which a good can be sold. Examples of price ceiling includes rent contorls, price controls on gasoline in the 1970s, and price ceilings on water during a drought.
Which of the following statements is true about price ceilings?Therefore, the correct option is b, price ceilings cause goods to be rationed by some other means than legally determined market prices.
When a price ceiling is non binding quizlet?A price ceiling is a legal maximum on the price and it is binding if it is set below the market price. Because the price ceiling is set at $12 and the market price is $10, this ceiling is not binding, so the market will reach the equilibrium.
What does a price ceiling cause?The ceiling price is binding and causes the equilibrium quantity to change – quantity demanded increases while quantity supplied decreases. It causes a quantity shortage of the amount Qd – Qs. In addition, a deadweight loss is created from the price ceiling.
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