The town of snowville is concerned that its rental property market is overpriced. the demand for rental housing is p = 48 - 2q, while the supply of rental housing is p = 12 + q. if the town imposes a price ceiling of 16 dollars, and the quantity demand will be ___ while quantity supply will be ___.

For this case what you should do is to clear q in both equations with a price of p = 16 $

We have then:

For the demand

p = 48 - 2q

q = (48 - p) / 2

q = (48 - 16) / 2

q = 16

For the supply:

p = 12 + q

q = p-12

q = 16-12

q = 4

Answer:

if the town imposes a price ceiling of 16 dollars, and the quantity demand will be 16 while quantity supply will be 4.