The two economic laws that will apply to this scenario are the law of supply and demand and the law of unintended consequences. The law of supply and demand states that as the price of a good (bacon) increases, the quantity demanded will decrease, while the quantity supplied will increase. Price controls will disrupt the market for bacon as the government sets a maximum price below the equilibrium price, resulting in a persistent shortage. The problem that is likely to occur after the laws take effect is that the shortage will persist or even worsen, as suppliers will have less incentive to produce bacon at the controlled price.
