54.In Figure 2-5, which of the following is true?a.Point Ais inefficient.b.Point Bis efficient.c.Point Cis 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,____
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