Government intervention - price floors

[@ilong4rennes]

thank you!!!!!! this really helps me !!!!!!!!!!!!!!!!

[@Nealknowsnumbers]

4:50. Did you not mean price floor?

[@ibeconguru]

Yes I apologize I meant price floor 🤦🏽‍♂️

[@slseiei]

Coud you explain why the welfare loss in this graph won't be including the top triangle

[@ibeconguru]

This is a more recent and more accurate video (in line with new IB Economics syllabus): IB Econ Diagrams Explained: Price Floors
th-cam.com/video/VG7JuWOtIL4/w-d-xo.html

[@alanchou5404]

Thanks for the video, but I’m afraid there is a mistake on the illustration of producer surplus.

[@ibeconguru]

You’re right. The producer surplus here is drawn with assumption of government purchasing the excess supply. I will update this video or replace it soon :)

[@ibeconguru]

You’re better off watching this video which is more recent and more accurate: th-cam.com/video/0OeqoaR1DFw/w-d-xo.html