10. At the end of a hot day, ten people want to buy a glass of lemonade. However, the local lemonade stand only has five glasses of lemonade left. The lemonade stand operator sells the remaining five glasses to the five people who are willing and able to pay the most. This is an example of ... a. a surplus b. rationing by price c. disequilibrium d. a shift in the demand curve e. a lottery 11. Which one of the following would be most likely to increase (shift to the right) the demand curve for public transportation? a. Increasing the frequency of bus stops b. Lower fares for bus tickets c. Lower prices for airline tickets d. Higher gasoline prices e. Lower automobile prices 12. When the supply of a good increases, what happens to equilibrium price and quantity? a. They both increase b. They both decrease c. Price increases, quantity decreases d. Price decreases, quantity increases e. The effect is ambiguous