2. The market for pizza has the following demand and supply schedules: Quantity Demanded Quantity Supplied 26 pizzas 53 81 98 110 121 Price $4 5 6 7 8 9 135 pizzas 104 81 68 53 39 a. Graph the demand and supply curves. What is the market equilibrium price and quantity in this market? b. Suppose the government imposed a price ceiling of 6$, what would the new equilibrium be? What would the shortage be? c. Suppose the government imposed a price floor of $8, what would the new equilibrium be? What would the surplus be?

2. The market for pizza has the following demand and supply schedules: a. Graph the demand and supply curves. What is the market equilibrium price and quantity in this market? b. Suppose the government imposed a price ceiling of 6$, what would the new equilibrium be? What would the shortage be? c. Suppose the government imposed a price floor of $8, what would the new equilibrium be? What would the surplus be? 2. The market for pizza has the following demand and supply schedules: a. Graph the demand and supply curves. What is the market equilibrium price and quantity in this market? b. Suppose the government imposed a price ceiling of 6$, what would the new equilibrium be? What would the shortage be? c. Suppose the government imposed a price floor of $8, what would the new equilibrium be? What would the surplus be