Very well indeed. The case of Berkeley. In agriculture since the '30's. 2. The minimum wage. This leads to rationing of sellers .
Government buys surplus.
Increased search effort by suppliers. Quality increases by suppliers. Again, quite well. There are always some beneficiaries, but the widespread public sympathy is hard to explain as anything other than a product of lack of economic understanding. A. A further effect of price controls is to induce entry and exit of firms into the market.