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 first draw incorporating the changes took place on October 7th and also saw an increase in the tier three prize (matching 4+1) climb to $50,000. The starting jackpot increase in 2012 along with the $1,000,000 prize for matching five numbers, meant there were more Powerball millionaires created. But it wasn t just the big winners that were affected by these changes; the minimum prize win also increased to $4.