Suppose a Vaccine for the Common Cold Is Discovered

Multiple Choice

Suppose a vaccine for the common cold is discovered.The government begins to produce the vaccine in as large a volume as possible.However,the market clearing price is very high due to high demand for it.Following this,the government introduces a price control and sets up an allocation scheme to control the vaccine's distribution.Which of the following is likely to be true about the price control introduced by the government?

A) The price set by the government is above the market equilibrium.
B) The price set by the government is below the market equilibrium.
C) The price set by the government is same as the market equilibrium.
D) Nothing can be determined about the price control from the information given here.