What is the MOST likely result of imposing a price ceiling on a particular product?

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asked Jan 19, 2022 32.2k views

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Gmolau · Answer 1 · 2022-01-25T08:32:40+0000

Answer:

Usually, when a price ceiling is imposed, the demand for the product goes up. This can cause a shortage of products because of their high-demand. Conversely, the opposite occurs when a price floor is imposed.

What is the MOST likely result of imposing a price ceiling on a particular product?

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What is the MOST likely result of imposing a price ceiling on a particular product?