When a binding price ceiling is imposed to benefit buyers,a result is that

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When a binding price ceiling is imposed to benefit buyers, it sets a price lower than the market equilibrium price. This results in excess demand or shortage of the good as more buyers want to buy the good at the lower price. However, since the quantity demanded exceeds the quantity supplied at the price ceiling, some buyers will not be able to buy any amount of the good. Therefore, while some buyers may benefit from the lower price, others will not be able to buy the good, resulting in a loss of consumer surplus. Sellers, on the other hand, will receive less revenue since they are selling the good at a lower price, which may lead to a decrease in producer surplus, lower profits, or even exit from the market.

When a Binding Price Ceiling Is Imposed to Benefit Buyers,a