If an effective ceiling price is placed on hamburgers, then

Name: If an effective ceiling price is placed on hamburgers, then
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An effective ceiling price on hamburgers, set below the market-clearing level, leads to a higher quantity demanded than supplied, potentially resulting in a black market as consumers and sellers seek to circumvent the price controls. This situation also means the price charged is below the equilibrium price where supply equals demand.

If an Effective Ceiling Price Is Placed on Hamburgers, Then