The table below indicates the supply j. 1ep/k k3ptx(2ly/alwz7 syschedule for oranges

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 following is a determinant of price elasticity rs5-z- ;vm kwld jbxtuk7c 2*,of supply (PE-w -t mclz, ;xd7kjs5kurvb* 2S).

  Assume the price elasticity of demand (Pim (qz43 a/vz9u0v98 bi mm*7ojjdig sED) for a home cleaning service changes from 1.81.8 to 1.21.2. Wh/79ju(sqmm o309zizdmaii bgjv8*4v ich of the following statements explain this change?
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, a4cmjy1bt) 7we7) mzn hz:zd,oyv ;mg9ssume the income of consumers increases by 10% and quantity demanded of the good increases by 5%. Calculate the income elad;zmg tb7,mcwv)7 j4 )e9m1: hoynzzy sticity of demand (YED), and state the type of good it is.

  Identify which of the following are valid reasonsn 62a xmkyh*a/bi ,9h67p ktjq why the price elasticity of supply (PES) for primary commodities is genera k 6,jthn2iq6aa 9pkx*yb7 /hmlly lower than the PES for manufactured products.

  

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, therpwj avy-4j 5vb6; bp, government implements high indirect taxes on cigarettes to deter consumption. Strict regulations on advertising and promotion, coupled with public health programs funded by tax revenues, lead to rj;v yb, 5- rp4a6wbjpveduced 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 producxu3 s c-/6hlavxu*2 ad/ q2mkrt falls 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,dcl/ m 7r enr-8x3qwk9 which of the following will occur when the price is lowxr 87ckmql3/9nw- ed rered?

  
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 gx my: y)e4ehx8ood, assume the price elasticity of demand (PED) is −1.95. Whi4:) xeyxm he8ych 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 supply qkkakm3;dh; 6c yp,y1 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 electronicsy)wue4 jj 7r3lo 0;yxl have price elastic supply 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 su/1 wp4p f 4 cdg8p1iaqyd2.rdfpply is 3 when the price of a product increases frofrp4pd1gwf 2. ia1 8y4dcqd/pm $\$$40 to $\$$42.
If the change in quantity supplied is 270, how many units of the product will suppliers produce at the current price?