Intro to Econ Week 5
Intro to Econ Week 5 Econ 201
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This 1 page Class Notes was uploaded by Katie Truppo on Saturday August 20, 2016. The Class Notes belongs to Econ 201 at University of Tennessee - Knoxville taught by Kenneth Baker in Fall 2015. Since its upload, it has received 5 views.
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Date Created: 08/20/16
Markets III: Sometimes We Don't Price Controls Price Floors: legal minimum price for goods/services Binding: Floor is above equilibrium (surplus) Price Ceilings: legal maximum price for goods/services Binding: Ceiling is below equilibrium (shortage)