The table below indicli rcl1d0u 2kdy7;q (nates 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 ork,b 6vd(0+soto,x wsf supply (P+,(w x,6vb o stdsro0kES).

  Assume the price elasticity of demand (PED) for a home cleaning s6bio 2ij w4v2*lbqzh 7ervice changes from 1.81.8 to 1.21.2. Which of the following statements expliz*bq27 jl4i 26bhw voain 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, aso 3 0a4rd;e:nxadvf, msume the income of consumers increases by 10% and quantity demanded of the good increas dr 3o4mfdav0a:xen ,;es by 5%. Calculate the income elasticity of demand (YED), and state the type of good it is.

  Identify which of the following are valid rx644 g,iqzw daeasons why the price elasticity of supply (PES) for primary c xzw4,aqdg4i6 ommodities 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 gocnm8k8ep:dh),hj/s i hvy31avernment 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 health outcomeaheh) n/jdsyhi1388c kmp :v, s.
Which of the following is not a possible outcome of these forms of government intervention?

  The price of a produ udtt,.sogl yx)h.13wct falls 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 the foc 75l ru9(a0b tjwpdpu6xz7b 3llowing will occur when the price is lowerdlxw930 ( btupzc 7bj57rpu6a ed?

  
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 z m) 8xg3win-jh ,q f/ )ou*ymcxu5*t6vbiw-m price elasticity of demand (PED) is −1x*x q ) v6u-jimzgn8ch- 3*,5iyb/omfmt wu) w.95. Which group of outcomes 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 beca7n+1nko(hc 4nlgj zb0use
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 eyv1ygy-v ib50 lastic 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 elasticity of0-wjwvjq w6ri/n j: +j supply is 3 when the price of a product incrv-0wj:j6r j +/in wwqjeases 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?