Which of the following would likely result from a price ceiling?

A price ceiling is a government-imposed limit on how high a price can be charged for a product, intended to make goods more affordable for consumers. When a price ceiling is set below the equilibrium price—the price at which supply and demand balance—it often leads to increased demand for the good because consumers find it more affordable. However, at the same time, suppliers may be discouraged from producing as much of the good due to reduced profitability caused by the lower price.

As a result, when the government places a price ceiling that is lower than the market equilibrium, the quantity demanded increases, but the quantity supplied decreases, leading to a situation where the amount of the product available is insufficient to meet consumer demand. This imbalance creates a shortage, meaning that consumers may not be able to purchase as much of the good as they would like at the capped price. Therefore, the result of a price ceiling is a shortage of products in the market, which aligns perfectly with the answer given.