The following graph displays four demand curves (LL, MM, NN, and OO) that intersect at point A.

Using the graph, complete the table that follows by indicating whether each statement is true or false.

Statement		(Treu or False)
Curve MM is less elastic between points A and C than curve NN is between points A and D.	(T/F)
Between points A and C, curve MM is elastic. (T/F)
Between points A and B, curve LL is perfectly inelastic. (T/F)

Transcribed Image Text:

PRICE (Dollars per unit) 200 180 160 140 120 100 80 60 40 20 0 0 20 M N сх хо + B 40 60 DE O A N M 80 100 120 140 160 180 200 QUANTITY (Units) PRICE (Dollars per unit) 200 180 160 140 120 100 80 60 40 20 0 0 20 M N сх хо + B 40 60 DE O A N M 80 100 120 140 160 180 200 QUANTITY (Units)