The table below indicatest ea 7t:rc+5huh 15i7i4io eat 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 is a determinant of yt z/xu quu4-5qdk,.gprice elasticity of supply (PES)..x4qkuu5 /t g-qzyu,d

  Assume the price elasticity of demand (PED) for a home cleaning service changes)/k, hj2z5 )nu61 yqeyh jevje from 1.81.8 to 1.21.2. Which of the following statements explain this cha zyn,h)kh 5 )ej/v eueqy16j2jnge?
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%t6m su7 chgk;ch+ly(ryb)z 49 and quantity demanded of the good increases by 5%. Calculate the income elasticity of demand (YED), and state the typyymk(g rb c thhul;6s9)7+zc4e of good it is.

  Identify which of the followinv p7ahbs:0 r;x wlfk6)g are valid reasons why the price elasticity of supply (PES) for primary commodities is generally lower than the PES fowbp0 ksrh lfav7 ;6:x)r 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 impl;x bk mf*uk hmf;qy;y4c9h g)b30)c/sq; qhueements high indirect taxes on cigarettes to deteu);sm93;bh * /hxc;m4q;fgyeb )kf uyq hk0cqr 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 g9gl, :juk1+/qkrm5 wyqyn o5 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 of the following will occur when the pd9h-lj 6exj o(riceeoxdjj9 6(h -l is 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 price elas1auk99g9ei4)h jpp ws ticity of demand (PED) is −1.95. Which group of outcomes bip9w9e4ash) j91p g kuelow 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 supp;uc m4x1hdxyxsfje 95ss c795ly 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 pric5yog:o;u :cp2op mvr4e 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 0+d6yc x6 fkz3kekqq9 supply is 3 when the price of a product increases39kq+z0y6dxk e 6 cqfk 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?