Final answer:
A price ceiling of $140 on a product with an equilibrium price of $100 will have no impact on the market, as it is set above the equilibrium price and does not constrain market transactions at that price level.
Step-by-step explanation:
If the equilibrium price for a product is $100, and a price ceiling of $140 is set, this will result in No impact on the market. This is because a price ceiling is only effective if it is set below the market's equilibrium price. Since the imposed price ceiling of $140 is above the equilibrium price, it will not restrict the market, and goods can still be sold at the equilibrium price where quantity demanded equals quantity supplied. As a result, there will not be a surplus or shortage of the product, nor will there be an incentive for increased production.