The table below indicates the supply schedule for7byo 64j4 idqr 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 i1p;lg - vzc4fzs a determinant of price elasticity of supply (PESz;plf4g v 1z-c).

  Assume the price elasticity of demand (PED) for a home cleaningys.l(j x nu 6z16sql-m service changes from 1.81.8 to 1.21.2 n(j61s.ll yz -6xqmsu. 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 ggyhlk(9x7r k yi8hd*6)iu h1 hk4jn e1ood, assume the income of consumers increases by 10% and quantity demanded of the good increases by 5%. Calculate the income elasticity of dem1ihhixkdh(l u 9 kj g*k)r78hyeny1 64and (YED), and state the type of good it is.

  Identify which of the following are valid reasons fnnagmve;r d*cqk 8q:7 00jk+why the price elasticity of supply (PES) for primary commodities is generally l+fd cvkknn0:qgr*8 m7a je;0qower 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 govern+ezl3d+m j6kn ua vj21 mh0,rqment implements high indirect taxes 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 02+ju,q1ae6 nv mr +3dmhjlzkhealth outcomes.
Which of the following is not a possible outcome of these forms of government intervention?

  The price of a product fal7 5c+g xrk28olrr solg-fl3 z7ls from $\$$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 t6ci5prwa1(x lhe following will occur when the price i5( clx 1wripa6s 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 elasticityy bypnb( .f(qyn q)k.2 of demand (PED) is −1.95. Which group of outcomes below correctly determinesyn.p).kby (2bqqn(y f 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 inelasticf j.c2r7jyv 4p a,vin+ supply 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 supp-(x/p)bber918p 9 mcdkggc:wwidw i/ly 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 elasticity of supplcd4 . +zajz1 t)vqs:mqy is 3 when the price of a product incrq4 1)za:q.dt c+jzsv meases 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?