A government imposes a maximum price on medical face masks, below the market equilibrium.
What is the most likely effect of this?
Some consumers will be unable to buy face masks at the maximum price.
2 )
Firms will produce more masks to meet the excess demand at the maximum price.
3 )
Poorer consumers will be able to obtain all the masks they need at the maximum price.
4 )
The market will clear at the maximum price.
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