The graph below shows the short- and long-run supply (Ssr, Slr) and demand (Dsr, Dlr) curves for water in a metropolitan water district. The price ceiling, Pceil, is currently set to be nonbinding. Adjust the ceiling by repositioning the Pceil line to a price that leads to a short- run shortage of 2.1 million cubic feet per month. To refer to the graphing tutorial for this question type, please click here. B Price ($ per 100 cubic foot) 7.5 7 6.5 6 5.5 5 4.5 4 3.5 3 2.5 2 1.5 1 0.5 0 2.8 S B 1 24 28 B 23 f 8 4244 & O % 3 Ssi Sir $ Dar Pceil Dir B &

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The graph below shows the short- and long-run supply (Ssr, Slr) and demand (Dsr, Dlr) curves for water in a metropolitan water district.
The price ceiling, Pceil, is currently set to be nonbinding. Adjust the ceiling by repositioning the Pceil line to a price that leads to a short-
run shortage of 2.1 million cubic feet per month.
To refer to the graphing tutorial for this question type, please click here.
Price ($ per 100 cubic
feet)
7.5
7
6.5
6
5.5
5
4.5
4
3.5
3
2.5
2
1.5
1
0.5
●
0
2.8
3
6
B
T
1
1
1
I
I
24 28
B
4244
O
….…….…….…...
Ssr
Sir
Pceil
Dir
Dsr
Transcribed Image Text:The graph below shows the short- and long-run supply (Ssr, Slr) and demand (Dsr, Dlr) curves for water in a metropolitan water district. The price ceiling, Pceil, is currently set to be nonbinding. Adjust the ceiling by repositioning the Pceil line to a price that leads to a short- run shortage of 2.1 million cubic feet per month. To refer to the graphing tutorial for this question type, please click here. Price ($ per 100 cubic feet) 7.5 7 6.5 6 5.5 5 4.5 4 3.5 3 2.5 2 1.5 1 0.5 ● 0 2.8 3 6 B T 1 1 1 I I 24 28 B 4244 O ….…….…….…... Ssr Sir Pceil Dir Dsr
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