If an effective ceiling price is placed on hamburgers,then:

A) the quantity demanded will exceed the quantity supplied.
B) a black market for hamburgers may evolve.
C) consumers may want government to ration hamburgers.
D) All of these are likely outcomes.

Ceiling Price

A maximum legal price set by the government on certain goods or services to prevent prices from rising above a certain level.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price.

Black Market

An illegal trade of goods or services conducted outside the authorization of the official regulatory framework, often to avoid taxes or due to the illicit nature of the goods.