The table below indicates the supply ip4dtt +-cjjyiy,td*qkpz4 ; 8.gjx 1 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 s z;c:vi8t-ihh::kz s lupply (Pkz:hs ;civz i tlh::8-ES).

  Assume the price elasmrd ifwxm7);c9o4 mz-ticity of demand (PED) for a home cleaning service changes from 1.81.8 to 1.21.2. Whii9mc mz -4;f)rmowx7d ch 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, assumjhq2ky* ,wrw lz,1yxs6*c 5w ae 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*y2 j,y cs6wz1 wlh* qrkw5xa, the type of good it is.

  Identify which of the uof/ ,1,8nsw -pyrnyjfollowing are valid reasons why the price elasticity of supply (PES) for primary commodities is generay-sop w nr,/8f1jy, unlly 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 cn9qy*1i v u0- jeqr. hj3pthp:ountry of Smokeland, the government implements high indirect taxes on cigarettes to deter consumption. Strict regulations on advertising and promotion, coupled with pvh 1 *rq- .j 0qeujhy:9intp3public 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 frowddnm r;;at 2glm898om $\$$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, 2- -ys bhjw-x ipwt(x.which of the following will occur when the prijwts-yb.2 -xhw(ix - pce 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 e vb968 4cob j s1dfbet/s1cnqebb89x-lasticity of demand (PED) is −1.95. Which group of oe8c b bq9cf /js 6tvbb1e1-489 bxsdnoutcomes 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 because ,+kj.zv8f zcv c*yqsp: 3m.bvxm 1,vb
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 ha s076z ,k1bbd l;lg:;sicgnny ve 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 egzbp 7xxz+ yc.47w 3edlasticity of supply is 3 when the price of a product increases fdx + wgzx p47eb.zy73crom $\$$40 to $\$$42.
If the change in quantity supplied is 270, how many units of the product will suppliers produce at the current price?