Q⁰ The demand for pizza is represented by PD = 10- and the supply of pizza is represented by PS = 4 + 4 dollars. The market for pizza is perfectly competitive. Suppose a price ceiling was set $2 below the equilibrium price. What would be the result? There would be a surplus of 12000. There would be a shortage of 12000. This is a nonbinding price ceiling. Quantity demanded would equal 4000. |N with Q in thousands and Pin

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