The table below indicates thj 8z-bywliyx:q6c3 q +/qvv -ae 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 price elasticity of supplypt rhia;ob99z.x/+ yr (PES).bit 9rr+a/p9zhox.;y

  Assume the price elasticity of demand (PED) for a home cleaninnv7m,zod8ih+ ,qvil3.r e; uyg service changes from 1.81.8 to 1.21n 7u8 eqh 3 i,dzio,.lv;y+mvr.2. 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 consumers increases by 10% and p7jd2tc3y+ a5gxm 5zvquantity demanded of the good increases by 5%. Calculate the income elasticity of demand (YED), and state the typec yzmdv3gt+ a5275xjp of good it is.

  Identify which of the followi f4u 7lm;he:/lzi/f8:hscqja ng are valid reasons why the price elasticity of supply (PES) for primary commodities is generally lower than the PES for manufactzua ;mlq:4lf/ihe c 7/: hsfj8ured 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, theyu.e8+ xh8y7puv ) ziw government implements high indirect taxes on cigarettes to deter consumption. Strict 8ey uuxp7.y)+wz8i hvregulations 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 2tqeq; cc 8k/.259o c5el;yc ohb yc0axwp1opfrom $\$$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 followi;tg j2teki b10. if;(8fht izvng will occur when the price is lowe 1 vte;h( gibj8 ;f2zti0itkf.red?

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

  For a 5% decrease in the pri+.p r8anfwwu)ce of a good, assume the price elasticity of demand (PED) is −1.95. Which group of ouurpwn8aw.f) +tcomes 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 inelastic supply.6(mgsw5xnqw9k t 9dzlu 1w ;h 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 price elastic suppl q 0hmd0xm3po:y 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 pricixtibiup+./w ;h2 c)g 8vf s+le elasticity of supply is 3 when the price of a product increases from b xl.ic/ph wsu)8fvi+i2 g+ t;$\$$40 to $\$$42.
If the change in quantity supplied is 270, how many units of the product will suppliers produce at the current price?