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

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Question

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

5. The variety of demand curves

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

Statement

Between points A and B, curve LL is unit elastic.

Curve MM is more elastic between points A and C than curve NN is between points A and D.

Between points A and D, curve NN is inelastic.

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