Hey Everyone! I'm Mr. Willis, and You Will Love Economics!

In this video, I will:
- Describe how the use of a price ceiling changes price level and quantity in a market, as
well as the pros and cons of price ceilings
- Explain how the use of a price floor changes price level and quantity in a market, as well
as the pros and cons of price floors
- Discuss how the use of a production quota changes price level and quantity in a market,
as well as the pros and cons of quotas and why quotas are used in the product market
- Describe how the use of a per unit subsidy changes price level and quantity in a market,
as well as the pros and cons of subsidies and why subsidies are used in the product
market


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