The table below indicate av;ak(33pl u9aj3pmf -yf8jgs 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 ded93v*x50g3 r1j d dwrch;vfdsterminant of price elasticity of supply (PE v 0wrd3v dsxdc5 ;9fdgj1*rh3S).

  Assume the price elasticity of demand (PED) for a home cleaning service changeskait: f1 1h/*wazm z1i from 1.81.8 to 1.21.2 1zaw 1hi 1fzi*/:tkam. Which of the 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 good, assume the income of gpts )bt u*0a/consumers increases by 10% and quantity demanded of the good increases by 5%. Calculate the income elasticity of demand (YED),spbta*) /g 0tu and state the type of good it is.

  Identify which of the following are valid reasons why the pro 6 /1rlx3z93qecylitice elasticity of supply (PES) for primary commodities is generally lower than thet1xzlcyr 9 oi/36q3 le 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 jyh-ob2 vi:b/ *c 3yjxof Smokeland, the government implements high indirect taxes on cigarettes to deter consumption. Strict regulations on advy/yxo icbj-*3hb jv2:ertising 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 fr-m;y5 ilsdjcmst4x -(om $\$$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, -m7xuanbykpq ;25-y g j2o(vlwhich of the following will occur when the price is lowek2 -ny aqjxgu7(b 2-p5loy;vmred?

  
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 elasticityy9cqdwi9 a 3 z0x: hkk69.tpxa of demand (PED) is −1.95. Which group of outcomes below correctla.q9dcpk ywkaxi:x039 t9 h z6y 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 supply becausefbb .hz6uy;zl.hd8 ;(du v-yc
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 because d8 3upyrgc5: p*l6mkq
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 i+f aadu .j8)iks 3 when the price of a product increased+ a8auj) ki.fs 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?