The table below indicatesdx.3 b d5-at 0v05;xxlhde:rwnl3u : dna5huv 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 price elasticity of s6c.0f mx 0eo zoyw *-y/zrr3gnupply (PES)no6moe0 /*cgwy0-yrz x3zr . f.

  Assume the price elast 9s .im6knfo.ticity of demand (PED) for a home cleaning service changes from 1.81.8 to 1.21.2. Which of the 9f.6mns io.tk 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 incom-7*9 eg8gcsi8ijq)v wupp a9fe of consumers increases by 10% and quantity demanded of the good increases by 5%. Calculate the income elasticity of demand (YED), and state the typu8isw-a7*fqi8je 9 gp9c)p gve of good it is.

  Identify which of the following are valid reaxs0o3 /3s ug*;-whdajco,z jpsons why the price elasticity of supplwsc dgjso-33z*0xoh p/a,ju ;y (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 Smokel,l6msho 0-n ftd2yvqzzg1, f;and, the government implements high indirect taxes on cigarettes to deter consumption. Strict regulations on advertising and lz-q1;sf z6yv gd, hnmo2,0 ftpromotion, 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 wx9l,1g*xzbo w-:kl8e( vf; yxe va*dom $\$$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 tkx7q clzxg2 p ;gn.l34he following will occur when the pricez7l3cx 4l;xk.2 nqgpg 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 th ghm/e+3 *whw,ag n )vnecf1v7e price elasticity of demand (PED) is −1.95. Which group of ou vaem)neg+h*h1,gf 7vw3w n/ctcomes 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 bp/e /jg+b)0 x.a8x evkbqgziv(6 kx9 7w+tu psecause
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 prt4 5s)g6rxvxr8io rx 3ice 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 el5 ir-: zvlm/gbasticity of supply is 3 when the price of a product increases z5: lmgv-ibr/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?