A government sets a price ceiling on rental apartments in a city, resulting in many people unable to find housing. What type of market outcome does this situation exemplify?

When a government sets a price ceiling on rental apartments, it means that landlords cannot charge more than a certain amount for rent. This often leads to a situation where the price is lower than what many landlords would usually charge, making it hard for them to cover their costs. As a result, the supply of available apartments decreases because some landlords may choose to rent their properties elsewhere or not rent them at all. This creates a shortage, meaning there are more people looking for apartments than there are apartments available. For example, if the rent is set at $800 but the market rate is $1,200, many landlords might decide to sell their property or not rent it out, leaving many people struggling to find a place to live.