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.
The estimated $1.5 billion jackpot is the biggest in U.S. history at double the $656 million awarded in 2012 for three tickets. The prize isnât the largest in history. Spain has the U.S. beat with $2.4 billion, but that went to thousands of people, USA Today reported. Forty-four states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands, play the Powerball lottery. The jackpot started at $40 million at the beginning of November.