1. The equilibrium price is the price at which A. consumers start reducing demand. B. producers' total revenue is highest. C. demand and supply curves intersect. D. neither demand... 1. The equilibrium price is the price at which A. consumers start reducing demand. B. producers' total revenue is highest. C. demand and supply curves intersect. D. neither demand nor supply will shift. 2. If a manufacturer introduces a new product with a successful advertising price, which of these will most likely result? A. equilibrium B. rationing C. surplus D. shortage. 3. Which event in Florida and California would most likely shift the supply curve? A. an influx of new low-wage workers B. an early frost accompanied by ice storms C. evidence that citrus fruit strengthens bones D. rise of mango juice as a popular breakfast drink. 4. Which of these might best signal furniture makers to cut back production? A. a fall in the cost of essential raw materials B. an increase in availability of skilled workers C. an introduction of competitors into the market D. a drop in the price consumers are willing to pay. 5. What is the usual result of setting a price ceiling on rents? A. People can find apartments but cannot afford to rent them. B. Houses are broken up into apartments to meet the demand. C. More people want to rent apartments than are available to rent. D. Construction jobs increase with the building of new apartment building. Read more