The table below indicates the scu1l63)rzjc) r5tnj zupply schedule 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 of supply 8n wi5jf s4vp;(PES ipnwf v;sj584).

  Assume the price elasticity of demand (PED) for a home cleaning service sr b5iu5(qu8wchanges from 1.81.8 to 1.21.2. Which of the following statements explain 5uur(5 8 qwisbthis 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, assume the incom7a9 202cfpbph-hf l1t +nrymae of consumers increases by 10% and quantity demanded of the good increl 72ba-phfa0cmnf+2r 9pyht 1ases by 5%. Calculate the income elasticity of demand (YED), and state the type of good it is.

  Identify which of the following are valid reasons why the price elasticityzr)hl*ny 3 j5n of supply (PES) for primary commodities is grh3yl nj zn*5)enerally 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, the government implements high indivmq:hju,fe 5l - f-su8(tc;rirect taxes on cigarettes to deter consumption. Strict regulations on advertising and promotion, coupled with public health programs funded by tax revenues, lead t 5-htcfvu8u-e;lqs:f,j( rm io 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 falls frfbd:n4sb; znvj:y l,w1k xbs;87 tmi1 om $\$$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 th xyh dn.n)b-;he following will occur when the price bx-ndn.); h hyis lowered?

  
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, assume the pricebmg)0dlke:xy8wx9g : elasticity of demand (PED) is −1.xb 80 9e:xkdlg)m:yw g95. 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 suppl0w7ddg)ln/6sf pgppl* 7we n:y 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 supply eiik*y7 t* p2q7 ioklgy6(oz) 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 wh *0q qod t0ro8who6td2en the price of a product increases fr oh00 qt2dodw8 qr*t6oom $\$$40 to $\$$42.
If the change in quantity supplied is 270, how many units of the product will suppliers produce at the current price?