Explain each of the following statements using supply-and-demand diagrams. a) "When a cold snap hits Florida, the price of orange juice rises in supermarkets throughout the country." (2.5 Marks) b) "When the weather turns warm in New England every summer, the price of hotel rooms in Caribbean resorts plummets." (2.5 Marks) c) "A strike by steelworkers raises steel prices." (2.5 Marks) d) "The price of station wagons rises." (2.5 Marks)(Production Possibility Frontier) "The production possibilities frontier (PPF) is the boundary between those combinations of goods and services that can be produced and those that cannot." Use the PPF given below to answer the following questions. Millions of tons of strawberries (per month) 1,000 B 950 800 C 550 .G D 2 3 Submarines (per month) a) Comment on Point G with the combination of 1 submarine and 550 million tons of strawberries. b) Comment on Point F with the combination of 3 submarine and 950 million tons of strawberries. Explain what is happening on point A, B.C,D AND E. d) What concepts does the PPF try to explain