Quantitative Analysis of Price Ceilings and Price Floors: Finding Points

5. Consumer and Producer Surplus; Price Ceilings and Floors / Quantitative Analysis of Price Ceilings and Price Floors: Finding Points / Problem 3

Problem 3

What is a potential consequence of a price ceiling on essential goods during a crisis?

Black markets may develop.

Increased supply of goods.

Decreased demand for goods.

Stable market conditions.