Which of the following was an effect of the price ceiling placed on ga

Which of the following was an effect of the price ceiling placed on gasoline in the U.S. in the 1970s?

A) Car owners started buying luxury cars that were less fuel-efficient as the price of gas was very low.
B) Gas stations ran out of gas as the quantity of gas demanded exceeded the quantity supplied.
C) Those who valued gas the most were able to buy gas under the price ceiling.
D) The inventory of unsold gas increased and gas stations incurred losses.

ANSWER

B