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Scenario: Pizza Supply and Demand. D s The demand for pizza is represented by PD = 10 - QT' and the supply of pizza is

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Scenario: Pizza Supply and Demand. D s The demand for pizza is represented by PD = 10 - QT' and the supply of pizza is represented by P5 = 4 + Q7, with Q in thousands and P in dollars. The market for pizza is perfectly competitive. Suppose a price ceiling was set $2 below the equilibrium price. What would be the result? 0 This is a nonbinding price ceiling. Q There would be a shortage of 12000. 0 There would be a surplus of 12000. 0 Quantity demanded would equal 4000

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