\n(Looking at the Maths) Given the following supply schedule:\n\n\n\n\n\nP\n\n\n2\n\n\n4\n\n\n6\n\n\n8\n\n\n10\n\n\n\n\nQ\n\n\n0\n\n\n10\n\n\n20\n\n\n30\n\n\n40\n\n\n\n\n\n(a) Draw the supply curv
\r\n
(Looking at the Maths) Given the following supply schedule:
\r\n\r\n P \r\n | \r\n\r\n 2 \r\n | \r\n\r\n 4 \r\n | \r\n\r\n 6 \r\n | \r\n\r\n 8 \r\n | \r\n\r\n 10 \r\n | \r\n
\r\nQ\r\n | \r\n\r\n 0 \r\n | \r\n\r\n 10 \r\n | \r\n\r\n 20 \r\n | \r\n\r\n 30 \r\n | \r\n\r\n 40 \r\n | \r\n
(a) Draw the supply curve.
\r\n(b) Using the arc method calculate price elasticity of supply (i) between P = 2 and P = 4;
\r\n(ii) between P = 8 and P = 10
\r\n(c) Using the point method calculate price elasticity of supply at P = 6.
\r\n(d) Does the elasticity of the supply curve increase or decrease as P and Q increase? Why?
\r\n(e) What would be the answer to (d) if the supply curve had been a straight line but intersecting the horizontal axis to the right of the origin?
\r\n