The table below indicates the supply schedule for oran,hdi* /1 mydooges

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 th fnhis5 m5 7z 7ap fku/ivqqr)j/id/0;e following is a determinant of price elasticity of supply (PES).zfq/ rksii7/mvq;fjp5iahd7u/5 n0)

  Assume the price elasticity of demandz zp7 k1d1.zw/e 9tbo/il ztk-*6owu u (PED) for a home cleaning service changes from 1.81.8 to 1.21.2. Which ouze-7tk9p id./l z16 o zwu/*otzb1wkf 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, assume the income of c occ86c(oi4 70 oe0glduuz wlpxe.10yonsumers increases by 10% and quantity demanded of the good incrz(d y0 .7p0u40iegluewool1c x8c oc6eases by 5%. Calculate the income elasticity of demand (YED), and state the type of good it is.

  Identify which of the following are h+uh oa okd2g2l(9 ez6wze,0v)hhi2/z om n+kvalid reasons why the price elasticity of suppl)o 2+vzmg/z60 hekn, ua+2hko 29(zeldwihohy (PES) for primary commodities is generally 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 indir;i3 zrvfl ostq3p8p: :ect taxes on cigarettes to deter consumption. Strict regulatio tzf;:qv3i8p 3o:sp lrns 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 fallsp8z:61e zibio,a, te -dpzgw: 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 t+z* q/,;rle 7tiexd jjhe following will occur when the price is loweredr*,x7z i lde/tj ;e+qj?

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

  For a 5% decrease in the price of vh - (lkl9szk12rrn(i a good, assume the price elasticity of demand (PED) is −1.95. Which group of outcomes below correctly determin h-s(lv9zk ln1i(krr2 es 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.p2l ujy7t yd9c.m3y d 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 eb4-hk ;lvl .(i7nip w) tgsl9rlastic 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 supply is 3 when the price of a prod p4xt:frduvp 9b uc65(uct increase pf5vdtr6u:9u xp4(bc s 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?