Final answer:
Price controls, such as price ceilings, can create a prolonged shortage in a market.
Step-by-step explanation:
Price controls can lead to a prolonged shortage in a market. When a government implements price controls, such as price ceilings, it restricts the maximum price that can be charged for a good or service. If this maximum price is set below the equilibrium price, it creates a shortage. For example, if the government sets a price ceiling on rent that is below the market equilibrium rent, landlords may be unwilling or unable to supply enough rental units, leading to a shortage of housing.