The table below indicates68vhj(,ed9h j-yeat 2eugck 4 the 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 following isdi2rh /77+xro krl)t k a determinant of price elasticity of supply (PEr/dl7rk x+ikoh 2rt)7S).

  Assume the price elasticity of dem0 rxftd2pm5bvr4 wngqyq hlx40 -+*k+and (PED) for a home cleaning service changes from 1.81.8 to 1.21.2. Which of the following statements explain this* 0mhkb xw44f ++n0r5-2 qptydglrvxq 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 consumers increases by 10% and2 ay6 i1hjgtw qb6v2*l quantity demandedv1 qtb6lh22jgy*ia6 w of the good increases by 5%. Calculate the income elasticity of demand (YED), and state the type of good it is.

  Identify which of the following x3o 7i;2lbq 4qhf .hetwl3ga)7xx/x yare valid reasons why the price elasticity of supply (PES) for primary commodities is generally lower than the Pgxxy .hf/4) x a7xbwelq h327tiq3l;oES 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 nlf0( wq;n cc xi8 6f36:nhzyqhigh indirect taxes on cigarettes to deter consumption. Strict regulations on advertising and promotion, coupled with public health programs funded by tax revenues, lead to reduced smoking rat0;q 8(n f: hnlcy3fw 6cx6znqies 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 f 1y gfsohu9kb5zp*/m1 alls 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 o 9w 2h nmla204ft2rjzdemand curve, which of the following will occur when the price is a04hmor tw9 2j2znlf2lowered?

  
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 price elasticity oqef-66zmm/ 0k8 kl4i *xhzeye/(ftiu f demand (PED) is −1.95. Which group of outcomes below correctly determines th i(6e/-m/ 0iy*lzqukff4 z eeh68mtkxe 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 beca s a:ch/1jtkwh-u y6v,use
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 0n,xbg i- 9esbaxj ksue0 o3p(ry/+i.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 whenow q.x ahn-*)p, ,gsdyl6jt7wo5x)uo the price of a product increases froodx,*,gp s wo).6 wo-j75yxhuqltn )am $\$$40 to $\$$42.
If the change in quantity supplied is 270, how many units of the product will suppliers produce at the current price?