The table below indicates thexhr:)20ot4edc w 2c, rhbw y;z supply 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 f2il k-m4ue9 jl8 xt qt34a1n9rmioy;pollowing is a determinant of price elasticity of supply (PES)nl2tj 1pu-84aexmy9koir9 ;3 m qlit4 .

  Assume the price elasticity of demand (PED) for a 7o8s,ufhh.f a home cleaning service changes from 1.81.8 to 1.21.2. Which of the following statements ex 8a 7ohffh,us.plain 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 goo l:j rir7fdr/ s,xa7)kd, assume the income of consumers increases by 10% and quantity demanded of the good increases by 5%. Calculate the income elasticity of demand (YED), and state the type of good it rx 7/ jlrr7s):af, dkiis.

  Identify which of the following are valid reasons why the pri+;vw kyvwt/h*c, u0m 95krrm*/u jl poce elasticity of supply (PES) for primary commodities is generally lower than the PES for manufactur r j o+cywu;/pv vhr/u9 w*m50t*kkl,med 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, tgq( r1tae -qnq/ om56qhe government implements high indirect taxes on cigarettes to deter consumption. Strict regulations on advertising and promotion, coupled with public health programs funded by tago6 q/e1qm (q aqtr5n-x 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 producto7sj4u))s au-l oed:t 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, which n*ygbfg r z8o34 6hcdwypwq74)q eq+ 8of the following will occur when the price is loww3rd qq48qpzyeny68 ) gog74+cfh bw*ered?

  
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 fdgj.h)z 6wccn p6a ,j(* ;zrjgood, assume the price elasticity of demand (PED) is −1.95. Which group of ou gc6w)6rdz,fp;.(*zac h jjn jtcomes 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 becrq5 c* 2krliywib2v/-ause
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 becaub;n l3nds5a3 txa 78p3fvyq+ese
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 product (zb4;2 iyu hgfincreases fromz i4u;yg(fbh2 $\$$40 to $\$$42.
If the change in quantity supplied is 270, how many units of the product will suppliers produce at the current price?