Because a price ceiling causes:

Question

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A price ceiling sets a maximum price for a good or service, which is typically below the market equilibrium price. This causes demand to exceed supply, leading to a shortage. Since there is not enough of the good or service to meet everyone's needs or wants at the ceiling price, some form of rationing must occur, such as long lines, waiting lists, or discrimination. This is inefficient and can lead to black markets, reduced quality, and lower incentives for suppliers.

Because a Price Ceiling Causes