The table below indicates the sup7zic30giax;1yob b6xply 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 foll-grzljx 3l+ h0e ):mq7op4agv owing is a determinant of price elasticity of supply (7xghvmql-0pl :4 )3jgrao+ze PES).

  Assume the price elasticity of demand (PED) for a homem.5 cs8cy lfe)t8, svl5y)(,ifmuuj u cleaning service changes from 1.81.8 to 1.21.2. Which of the following stat,ls,u) v5lyt).5 cf8 feim um8(jycsuements 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 consumers incre,qy7+3 pvhckqkn 92ieases by 10% and quantity demanded of the good increases by 5%. Calculate the income elasticity of demand (YED), and state the type of gooe ,q qpkih7ky+92nvc 3d it is.

  Identify which of the following are valid reasoc 7brdd6 ,9hcfns why the price elasticity of supplydhc6r b,7d9 cf (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 indiopf 4yl 5f0c2ab2jt m1rect t0a4y 2c2btjofmlpf1 5 axes on cigarettes to deter consumption. Strict regulations 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 fa++ys:l4seh yodnt x 6, hnp(3dzqy6k 1lls 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 the following will ocbpy7uppr2s r r(i 3i7*o ek03icur when the price is lowerp3 rs7yirui2e0bkpio7 r3*(ped?

  
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 of demand maj4ug s z9x /rgd89yyjak,- .(PEmk4-gjxz u g,9. /rsy9jdaya8D) is −1.95. 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 inelas+ e6f9xpebq x2tic supply 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 vw qerch q0v/5bia7uf;k0* n7 have 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 elasticity of supply is 3 when the price of a p8w 2 ik )hf3j6gc2ru oc+s/imh19gpwl /h lc*yroduct increases cw2 oyhrg1/ uj s3fc6k c9w/)*hl8pmi+ig l2hfrom $\$$40 to $\$$42.
If the change in quantity supplied is 270, how many units of the product will suppliers produce at the current price?