Suppose the government sets a price ceiling of $1.00 per pound of cheese when the equilibrium price is $5.00. what will occur

Happy foods and general grains both produce similar puffed rice breakfast cereals. for both companies, thecost of producing a box of cereal is 45 cents, and it is not possible for either company to lower their productioncosts any further. how can one company achieve a competitive advantage over the other?