Why do some consumers tend to favor price controls while others tend to oppose them?
A. Price ceilings generate surpluses. Consequently, consumers who obtain the product at a lower price win, but consumers who obtain the product at a higher price lose.
B. Price ceilings generate shortages. Consequently, the consumers who obtain the product at a lower price win, but other consumers will lose because they would like to purchase the product but are unable to because of a shortage.
C. Price ceilings generate shortages. Consequently, consumers surplus increases, but producer surplus decreases.
D. Price floors generate shortages. Consequently, the consumers who obtain the product at a lower price win, but other consumers will lose because they would like to purchase the product but are unable to because of a shortage.
E. None of the above.

The answer is: B) Price ceilings generate shortages. Consequently, the consumers who obtain the product at a lower price win, but other consumers will lose because they would like to purchase the product but are unable to because of a shortage.

Explanation:

A price ceiling generates shortage because it doesn´t allow an equilibrium point to be reached where demand will equal supply. As the price is artificially set down, there is more demand for the product than what is supplied. That is the result of suppliers not willing or being able to supply enough product due to its low price.