g A price ceiling that is set below the equilibrium price . Group of answer choices causes suppliers to lose money creates a shortgage creates a supplus is non-binding

creates a shortage

Explanation:

Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.

Because price is set below equilibrium price, demand would outstrip supply and this would lead to a shortage

Effects of a price ceiling

1.It leads to shortages

2.it leads to the development of black markets

3.it prevents producers from raising price beyond a certain price

4.It lowers the price consumers pay for a product. This increases consumer surplus