In figure 2 5 which of the following is true a point

54. In Figure 2-5, which of the following is true?
a. Point A is inefficient.
b. Point B is efficient.
c. Point C is unattainable.
d. All of the above are true.
Figure 2-10

____ 55. Refer to Figure 2-10. A movement from point C to point D could be caused by
____ 56. Refer to Figure 2-10. If this economy put all available resources into the production of bananas, it could
produce
____ 57. Refer to Figure 2-10. If the economy moves from point C to point B, then which of the following statements
is correct?
____ 58. A cold spell in Florida extensively reduced the orange crop, and as a result, California oranges commanded a
higher price. Which of the following statements best explains the situation?
a. The supply of Florida oranges fell, causing the supply of California oranges to increase as
well as their price.
b. The supply of Florida oranges fell, causing the supply of California oranges to decrease
and their price to increase.
c. The supply of Florida oranges fell, causing their price to increase and the demand for
California oranges to increase.
d. The demand for Florida oranges was reduced by the freeze, causing an increase in the
price of California oranges and a greater demand for them.
____ 59. If cable TV service and satellite TV service are substitutes,
____ 60. Assume the demand curve for cookies is downward sloping. If the price of cookies falls from $1.50 to $1.25
per dozen,
____