(Answered) Aprice ceiling -is more effective when it is higher occurs in housing markets only makes it illegal…

➤ How do price ceilings affect housing markets?
In housing, price ceilings appear as rent control. They keep rents lower and help current tenants in the short term. However, they reduce landlords’ incentives to maintain or build units, lower housing quality, and create long-term shortages and mismatches between tenants and available units.