The table below indicates the supply schedule oxf7l9 qx7g tl+b/t:n;-igcj 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 pri 5htgd qzon1t1s8w m.2ce elasticity of supply (PESd2 wh t1nsg.q8ozt1m5).

  Assume the price elasticity of demand (PED) for a home cl.: hvr)rv, wgceaning service changes from 1.81.8 to 1.21.2. Which of the following statements explain thrgc)wvv ,.:hr is 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.e,mbdo5 eee nv*rq:j ck46:1 fy(o8wvih(ig of consumers increases by 10% and quantity demanded of the good increases by 5%. Calculate the income elasticity v.jr,e fb8:oo5eqihy (e*g(vi md4 c 1:ew nk6of demand (YED), and state the type of good it is.

  Identify which of the following are valid reasz do2;qz: 4c *4kb:e oag cazjmg21yt f0;vmr4ons why the price elasticity of supply (PES) for primary commodities is generally lower thmtz2o:*e;m a4jva :0gc4f1od rzyc2 ;qk4 g zban 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 implemxg;fm,m 2uwno5:54pje a wd1ments high indirect taxefdw m5ap:xe5;4j w,gm 1mun2os 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 falls from :nnzi5lx: 23xqhwpd g *w,g9e$\$$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 v:y, +sn) r+bhsgsjs 3(wi0j,:ulllo occur when the price is loweres+jssg,n u: jvlrw ,)3bsh i0l:l(y+od?

  
Which point on the Engel curve above identifies the situation where blankets are a luxury good?

  For a 5% decrease in the p, :cjomlt c,i/rice of a good, assume the price elasticity of demand (PED) is −1.95. Which group of outcomes below correctly determines the impact oto ,c/, ic:mjlf 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 because erb + l57v*ha01w3sjx+tuc u d
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 becaus,lfl gh,cn70)xl4o qfer /w.w e
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 ogdl :t6 zn x60g+0svaqf a product increases6nz0lasg+ x:0dtv 6qg 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?