Price Controls and Natural Gas Shortages Data for 1975 a Supply: Q=14+ 2PG + 0.25Po o Quantity supplied in trillion cubic feet (Tcf) Demand:Q=-5P+3.75尸 ● Quantity demanded(Tcf a PG price of natural gas in $/mcf and o- price of oil in $/b Chapter Slide 12Chapter 9 Slide 12 ◼ Supply: QS = 14 + 2PG + 0.25PO ⚫ Quantity supplied in trillion cubic feet (Tcf) ◼ Demand: QD = -5PG + 3.75PO ⚫ Quantity demanded (Tcf) ◼ PG = price of natural gas in $/mcf and PO = price of oil in $/b. Price Controls and Natural Gas Shortages Data for 1975