Should the government force you to keep your promises? If not, then how can we live in a society? Don’t we need to be able to rely on each other’s promises to survive? Should the government force you to keep all of your promises? Are there promises you make that should remain beyond the reach of government? How can we decide which promises the government should be involved in forcing you to keep, and which promises you should be left on your own to keep (or not keep)?

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.