Price ceilings will impose costs on society because they:

A) will eliminate long waiting lines.
B) may result in black markets,where prices are lower than the market-determined price would be.
C) lead to a smaller quantity offered on the market.
D) help businesses instead of consumers.

Price Ceilings

Legally imposed maximum prices on goods or services that aim to keep them affordable for consumers, which can lead to shortages if set below the market equilibrium.

Black Markets

Illegal trading systems where goods or services are bought and sold at prices not regulated by the government, often in violation of price controls or rationing.