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Microeconomics Assignment Help|Microeconmics Assignment Help Service

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About Microeconomics: Tutorhelpdesk is a preeminent

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Sample Microeconomics Assignment Help Service Questions:
Depreciation Sample Questions
Question-1: Any straight line supply curve passing through the origin has value of
elasticity equal to one.
Proof: In Figure(A), linear supply curve OS is drawn, Consider ABC and AOF. They are
similar triangles, therefore, the ratio of their sides will also be equal, i.e.,

Figure es = 1
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We know, =

Substituting (1) in the formula of , we get

=1

In Figure(B), SS supply curve is curvilinear, Tangent to the curve at point A, is given by OT

which passes through the origin. Point elasticity at point A = = 1.

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Question-2: If straight line supply curve goes through the quantity axis, it is
inelastic.
The required supply is shown Figure

Proof: in Figure(A), linear supply curve MS is drawn which touches the x-axis at point M.
Point elasticity of supply at point N is calculated as :

at point N =
Or

< 1 (since OQ > MQ)

On a curvilinear supply curve, SS, drawn in Fig. 5.24 (B) draw a tangent to the curve at the
point where elasticity of supply has to be calculated. Let it be point N, Extend the line
through point N, since it cuts the quantity axis at point M, es is calculated as :

Or es < 1 (since OQ > MQ)

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Question-3: If a straight line supply curve goes through the price exist, it is
elastic.
Proof: In Figure(A), linear supply curve MS is drawn which touches the y-axis at point M.
MS is extended leftward to cut the x-axis at point Q1.

Figure

> 1

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Elasticity of supply at point N is calculated as :

at point N =
Or

> 1 (as > OQ)

In Fig. 4.25 (B), curvilinear supply curve (SS) is drawn. To calculate elasticity at point N,
draw a tangent to the curve at that point and extend it. Then, eS is calculated as :

=
Or

es> 1 (since Q1Q > OQ)

Question-4: Suppose Q = -40 + 10 p be the supply function, Find out price elasticity of
supply at price of $12.
Solution: Q = -40 + 10p
Differentiating, we get

= 10
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When price = $12, Q = -40 + 10 (12)

= -40 + 120
= 80 units
Thus, es =

= 10.

= 15

Question-5: Find are elasticity of supply if price of rice rises from $20 to $40 per kg and
supply increases from 10 kg to 15 kg in a month.
Solution:

Are =

= 0.6

Question-6: Let the supply function be

Q = -40 + 10 p
Calculate are elasticity between price of $10 and $12.
Solution:

When P = $10, Q = -40 + 10(10) = -40 + 100 = 60 unit

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When P = $12, Q = -40 + 10 (12) = -40 + 120 = 80 unit

Are es =

=+
=

= 1.57

Question-7: What is the difference between elasticity of supply and slope of the supply
curve?
Solution:

Slope of supply curve is

. It is constant throughout on a straight upward

sloping supply curve.

Elasticity of supply es =

or
=

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