Explain why shortages and surplus are not temporary when price controls are used?

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asked Feb 5, 2020 84.4k views

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Estemendoza · Answer 1 · 2020-02-11T22:24:35+0000

Market Surpluses & Market Shortages. When this occurs there is either excess supply or excess demand. A Market Surplus occurs when there is excess supply- that is quantity supplied is greater than quantity demanded.

Explain why shortages and surplus are not temporary when price controls are used?

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