Floors in Pricing. A price floor is the lowest amount at which a good or service may be sold and still function within the traditional supply and demand model. Prices below the price floor do not result in an appropriate increase in demand.
Finally, MEGA MONEYâ¢ was introduced in 1998. In July 2008, the Lottery announced that it would join the Multi-state Lottery Association (MUSL) and launch POWERBALLÂ® in early January 2009. The instant-win game LUCKY LINESâ¢ launched in October 2010 and ended prior to the launch of MEGA MILLIONSÂ® in May 2013.
Powerball is an American lottery game sold by 47 lotteries (including the District of Columbia, Puerto Rico and the U.S. Virgin Islands). It is coordinated by the Multi-State Lottery Association (MUSL), a non-profit organization formed by an agreement with U.S. lotteries. Powerball's minimum advertised jackpot is $40 million (annuity); its record jackpot was $590,500,000 won in May 2013 by one ticket in Florida (surpassed by two Mega Millions jackpots). Powerball's annuity is paid in 30 graduated installments; winners may choose cash instead.