Question: Suppose that the demand function for pizzas is Qd = 65,800 - 1,200P. The supply function is Qs = 4,000P - 20,000. Suppose the College

Suppose that the demand function for pizzas is Qd = 65,800 - 1,200P. The supply function is Qs = 4,000P - 20,000. Suppose the College Student Party is elected and places a price ceiling on pizza of $10 per pizza. How many pizzas will be bought and sold? Assuming that the consumers with the highest willingness to pay are the ones to consume the supplied pizzas, what will the effect be on the aggregate, consumer, and producer surpluses?

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