The table below indicates the supply sched8q 5 os)dhxvbuncst(,;4)wl tule 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 jh0 aqgj7:) dwfollowing is a determinant of price elasticity of supply (Pdaqj)wj 7g: 0hES).

  Assume the price elasticity of demand (PED) for a home cleaning serfq/(2q(h ng ,hohf0rys(t v0pvice changes from 1.81.8 to (0ro yg vtnpqh(hfqs hf/2(,0 1.21.2. 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, assume3;vm* pj/ zgz)n7z 9mp4in nka/k qjr* the income of consumers increases by 10% and quantity demanded of the good increases by 5%. Calculate the income elasticity of demand (YED), and state jnp*3 /ri;vg nkz9 /zpnmmja4qz*7)k the type of good it is.

  Identify which of the following are valid reasons why the price elasticity ofby8 1 7iw 3m06ya5qoox- cck(lq2riox supply (PES) for primary comio(7c8 3rmyb16cqlw0-i2 axk oo5yq xmodities 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 Smokeland, the government implements high inxj;pnwe6 rqzpvews,) sva, + /2yd/tq5t-l 0wdirect taxes on cigarettes to deter consumption. Strict regulations on advertising and promotion, coupled with public h s5jt6wq p/q,za+v ndsr,lew/xt0-p) e ; v2ywealth 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 f1ftn h /2i1ygccfar 71rom $\$$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, whil3hze.jsfk /; ch of the following will occur when the price / ;khfl3ezsj.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 ela jq -43o5gfdaksticity of demand (PED) is −1.95. Which group of outcomes bo4k fdg -5q3ajelow 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 becaumz vds pkz1ybv-dxb q9 :+9zuq1r (-b)se
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 hdzq/h-9,q*-zn;yznhm / i l7ojc *johave price 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 dxir46skx9 z xgj1 *-azb52cnelasticity of supply is 3 when the price of a product increases froz5x9n*kcaxgd- ji26s1 bz4 r xm $\$$40 to $\$$42.
If the change in quantity supplied is 270, how many units of the product will suppliers produce at the current price?