A diagram of Demand and supply to illustrate the concept of excess demand will greatly help.What is lthe likely effect of imposing price controls when demand exceeds supply?
price controls would increase the hardship of those on the demand side, because some of them would be left unable to purchase a supply which was bought up by luckier others.
it would also serve to have some of the supply be pulled from the market.
we can't do diagrams on this Y!AWhat is lthe likely effect of imposing price controls when demand exceeds supply?
I bet it would ( making a diagram)
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