Suppose the equation for supply of water is Qs=49+20P, and the equation for demand for water looks

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Suppose the equation for supply of water is Qs=49+20P, and the equation for demand for water looks like Qd=9815P, where PP is the price of a gallon and Q is the number of gallons. Determine the shortage from the price ceiling if the government sets the maximum price of water as $1.00 per gallon. Write the exact answer. Do not round.

Posted Date: Jun 13, 2024 02:13 AM

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Suppose the equation for supply of water is Qs=49+20P, and the equation for demand for water looks

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