The table below indicates the supply schedule for oranges +vtk-a h0 8nyh

Price(US$/dozen)	Quantity supplied (dozens)
6	20
7	28

Calculate the price elasticity of supply (PES) when the price of a dozen oranges increases from US$\$$6 to US$\$$7?

  Identify which of the fo4c ; kxyb5oq;fllowing is a determinant of price elasticity of supply (PES);f;ycx 4kq b5o.

  Assume the price elasticity of demand (PED) fo xn 4c/(jv)3pzosfi lhq mz12:r a home cleaning service changes from 1.81.8 to 1.21.2. Which of the following statements explain this chaoqn) 13v f /2hijzzlx4s(:pmcnge?
I. a competing firm increased its operating hours
II. a competing firm begins focusing on office cleaning
III. incomes of potential customers increase

  
What market that is most likely pictured in the diagram above?

  In the market for a good, atjf.fy1.sy xz b,t,1j1 be1u1(fhr vkssume the income of consumers increases by 10% and quantity demanded of the good increases by 5%. Calculate the income elasticity of demand (YED), and staj ,y11fu1 zbvk(,st f yf.be.1trjx1h te the type of good it is.

  Identify which of the following are valid re4 pg:4/xg7mx*aaa x oiasons why the price elasticity of supply (PES) for primary commodities is generally lower than the PES for manufactured productx*aom:xa4a /g 7i4px gs.

  

Rrice	Quantity demanded
US$20	100
US$21	97

Calculate the price elasticity of demand for the product in the table above when the price increases from US $\$$20 to US $\$$21.

  In the hypothetical country of Smokeland, the government implements hy;9l.)upm+k5z fh knfigh indirect taxes on cigarettes to deter consumption. Strict regulatifkz;+ khu5n.f9pl)my ons on advertising and promotion, coupled with public health programs funded by tax revenues, lead to reduced smoking rates and improved public health outcomes.
Which of the following is not a possible outcome of these forms of government intervention?

  The price of a product fal gmjzxvn+jeorb*5l,76 o+t p 5ls from $\$$30 to $\$$25, and as a result, quantity supplied decreases from 250 000 to 200 000. Calculate the PES and determine whether supply is price-elastic or price-inelastic.

  For a straight-line demand curve, which of the following wi.qcp*mhi+ ;tr ll occur when the price is lohti ;qrc*+m. pwered?

  
Which point on the Engel curve above identifies the situation where blankets are a luxury good?

  For a 5% decrease in the price of a good 43 iib;j3cy8 m9xcqrl, assume the price elasticity of demand (PED) is −1.3rxmib;34 cj lqc y8i995. Which group of outcomes below correctly determines the impact of the change in price of the good?

  

	Gizmos	Whats its	Widgets
Firm A weekly production	80	70	50
Income elasticity of demand(YED)	1.2	0.6	-0.4

Assume consumers' incomes fall, and the chief operating officer of Firm A recommends reallocating production inputs to reflect changes in demand. Which of the following recommended reallocations would lead to the greatest increase in sales for Firm A?

  Oil has price inelastic suu0;ea m6i j, ,vrhgwu5pply because
I. It has limited substitutes
II. It takes time to adjust production inputs
III. Production involves a high cost
IV. It is a necessity

  Consumer electronics have price elastic suflt*q.s 6lh/ ypply because
I. They are durable and can be stored
II. They do not take a long time to produce
III. They have a lot of substitutes
IV. They are luxuries

  
Which of the following statements correctly compares the supply curves above?

  Assume that the price elasticity of supply is 3 when the price of a prine*fxd;x7s 6oduct increas;se6*n fix7dxes from $\$$40 to $\$$42.
If the change in quantity supplied is 270, how many units of the product will suppliers produce at the current price?