Question: can you answer these 3 questions True/ False ? 1- An inelastic demand or supply curve is one where a given percentage change in price

can you answer these 3 questions True/ False ?

1- An inelastic demand or supply curve is one where a given percentage change in price will cause a smaller percentage change in quantity demanded or supplied. ? True / False

2- Price elasticity measures the responsiveness of the quantity demanded or supplied to a good to a change in its price. ?

3- Elastic demand or supply curves indicate that the quantity demanded or supplied responds to price changes in a greater than proportional manner.?

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