The table below indicates the supply schedulfy .q,,4 ,.lhrhei c*t7yl wrjzr u38te 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 fkk1-g)e wr2rm1 15neovb8 ymhollowing is a determinant of price elasticity of supply (PES).1w2b re)no1ghe k-k158rmymv

  Assume the price elasticity of dem j6r: hcq0*83auw5j.zul: limb:f htwand (PED) for a home cleaning service changes from 1.81.8 to 1.21.2. Which of thqz5iajfwt 3rl:lm6 h8wu.hj * :0:cb ue 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 goh-y)bv)*90wihjl -st (seso aod, 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 it9e ob-haysh0ij v)s()sw lt*- is.

  Identify which of the following are valid reasons why the price elastici1pb p,sf* sez4 3bhfl(ty of supply (PES) for primary commodities is gene(bhsfbpp43 fel *1,szrally 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 hdog9ur ek;b j;71,yl, the government implements high indirect taxes on cigarettes to deter consumption. Strict regulations on advertising and promotion, coupled with pueg;lkbd;,y1ojh 9 7ru blic 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 falls fro04ue 1sdhz5 yi)v7jfem $\$$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 3die9cw-03y ok/ym -ktd rg x,the following will occur when the price id,k/y3iwy k0 eg9- xtd-oc3 rms 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 pricev0z8-vs:df) ap x*b/njcg6p z elasticity of demand (PED) is −1.95. Which group of outcomes below correctly determines the impact of the change in price of th)dpvacpnsz:f xj-0z* 8g6/bv e 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 spz +poysl / :vap83unwrr-2/wupply 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 hav7h wlr v/ j)p1koy5dw5(u8 ;jjum in9ne 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 elasticityumjdypn 1zgwbjez7r 0gl.2)x( *3+fk of supply is 3 when the price of a product incregn(w*kb +pej7my1 02gzzruj d f l.x3)ases 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?