Question: suppose the market for pizzas is unregulated that is pizza...
Suppose the market for pizzas is unregulated. That is, pizza prices are free to adjust based on the forces of supply and demand.
If a shortage exists in the pizza market, then the current price must be (higher/lower) than the equilibrium price. For the market to reach equilibrium, you would expect (sellers to offer lower prices/buyers to offer higher prices/persistent excess demand).