If the college put a price ceiling on meals at $4 a meal, what is the quantity bought, the shortage of meals, and the maximum price that someone is willing to pay for the last meal available?

Use the following table to work Problems. The table sets out the demand and supply schedules for college meals:

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Price (dollars per meal) 45678 Quantity demanded Quantity supplied (meals per week) 3,000 2,750 2,500 2,250 2,000 1,500 2,000 2,500 3,000 3,500