The table below indicates the supply schedule for orangesc(mn;z9wsp8bp y;i 8x

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,j0ab ph htg-1 elasticity of supply (PES)b1a,tjh0hp -g .

  Assume the price elasticity of dt55+j*zk75/uesld1g y fp npyemand (PED) for a home cleaning service changes from 1.81.8 to 1.21. znspl p5u/7 jyd*t5ke1+gy 5f2. 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 consumth7c 69sz 8m:rg-xftuers increases by 10% and quantity demanded of the good increases by 5%. Calculate the incom-g87humtt rf: x69 zcse elasticity of demand (YED), and state the type of good it is.

  Identify which of the following are valid rea 4x vc m o.9k;gg,ftb.gq(vrz9sons why the price elasticity of supply (PES) for primary commodities is generally lower than the PES for manufactured product9o,g;vgvxt.fmrzk4g c q9(b .s.

  

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 hxi yj:xr/zzei62fjv5 qa 0 9oam ,,wi2igh indirect taxes on cigarettes to deter consumption. Strict regy0,f 5rv62oqim 9a2ixwezxz,ja i j:/ ulations 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 productgjn gw /ig(hyjj6hx /d1) -a,s 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 o0f ux,t h(f. q-noh.qm) q;pfnf the following will occur when the price is h(m. t-f,hun q; .nqff) pqo0xlowered?

  
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 elasticity of, :e vje4 kuupj:537-bhnstfo demand (PED) is −1.95. Which group of outcomes below correctly determines the impact of the change in price of the gtf,:j:jbeesp453h- vu7 kuonood?

  

	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 sj.yopibho+0w*y bck/ /t qw i3m:k6 c*upply 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 suppljgro .4aymfx0c6 p99gy 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 supply is 3 when the price of a product inl*u2rkw/b7ot z4 *ymc creas*7oczkbmwy/ ur*42 t les 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?