What is a potential long-term effect of a price ceiling that creates a shortage in the market?

A price ceiling is a limit set by the government on how high a price can be charged for a product. When the price is kept too low, it can lead to a shortage, meaning that there isn't enough of the product to meet everyone's needs. Over time, this shortage can cause producers to lose money because they might not be able to cover their costs, leading them to produce less of that product. For example, if the government sets a low price for rent, landlords might not maintain their buildings or even decide to stop renting them out, resulting in fewer available homes. This long-term effect can create more problems in the market, like a lack of quality housing or other essential goods.