PLEASE ANALYZE THE GPRAH CAREFULLY! USE THE MIDPOINT FORMULA TO BE SURE THAT YOU SELECTED THE CORRECT ANSWER! WRITING MUST BE CLEAR TO READ!!! IF YOU ARE UNABLE TO USE THIS FORMULA USE SOMETHING THAT WOULD TELL YOU THE CORRECT ANSWER!
MIDPOINT FORMULA: (Q2-Q1/Q2+Q1)/2 divided by (P2-P1/P2+P1)/2
Use a simple trick, you wont need a formula or such simple question. The flatter the curve is the more elastic it is. i.e. a horizontal curve is perfectly elastic and a vertical curve is perfectly inelastic.
If a curve is more towards the flatter side it is elastic as compared to other curves. If a curve is closer to the vertical curves it is inelastic. A 45* line is considered as a unit elastic i.e.where the elasticity is 1.
a) AD is more closer to the vertical curve as compared to AC, therefore AD is less elastic compared to AC. The statement is true.
b) The curve AD is more on the vertical side when compared to a imaginary 45* line. So it will be inelastic. The statement is false.
c) The statement is true. A horizontal curve is always perfectly elastic.
PLEASE ANALYZE THE GPRAH CAREFULLY! USE THE MIDPOINT FORMULA TO BE SURE THAT YOU SELECTED THE...
USE THE MIDPOINT FORMULA TO FIND OUT THE EXACT ANSWER!!!
ALSO, WRITING MUST BE CLEAR TO READ!
COORDINATE POINTS FOR A: 50,50
B: 35,50
C: (35,60)
D: (40,65)
E: (50,65)
YOU HAVE TO MATH TO FIND OUT THE CORRECT ANSWER!!!
The following graph displays four demand curves (LL, MM, NN, and O0) that intersect at point A. 100仐 90 80 70 DIE 60- 0 30 ivi 冰》 C) 0 10 2030 40 5060 70 80 90 100 QUANTITY (Units) Using...
The following graph displays four demand curves (LL, MM, NN, and O0) that intersect at point A. 280 亩 240 200 ш180 a 120 0 40 8020 160 200 240 280 320 360 400 QUANTITY (Units) Using the graph, complete the table that follows by indicating whether each statement is true or false True False Statement Curve NN is more elastic between points A and D than curve MM is between points A and C.O Between points A and D,...
5. The variety of demand curves 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 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.
5. The variety of demand
curvesThe 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 Between points A and B, curve LL is unit elastic. Between points A and D, curve NN is inelastic. Curve NN is less elastic between points A and D than curve MM is between points A and C.
The following graph displays four demand curves (LL, MM, NN, and 00) that intersect at point A.True or False1) Between points A and D, curve NN is inelastic.2) Curve NN is less elastic between points A and D than curve MM
is between points A and C.3)Between points A and B, curve LL is unit elastic.
3. The variety of demand curves The following graph displays four demand curves (LL. MM, NN, and OO) that intersect at point A 20 18 16 LA 12 10 0 46 0 14 16 18 20 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 perfectly inelastic. Curve MM is less elastic between points A and C than curve NN is between points...
The following graph displays four demand curves (LL, MM, NN, and 00) that intersect at point A. Using the graph, complete the table that follows by indicating whether each statement is true or false. Statement True False Curve NN is more elastic between points A and D than curve MM is between points A and C. Between points A and E, curve 00 is perfectly elastic. Between points A and D, curve NN is inelastic
PLEASE READ VERY CAREFUlLY & SHOW ALL THE CALCULATIONS &
WRITING MUST BE CLEAR TO READ! THANKS!
The corindate points:
A: (200,200)
B: (140,200)
C: 140,240)
D: (160,260)
E: (200,260)
4. The variety of demand curves The following graph displays four demand curves (LL, MM, NN, and OO) that intersect at point A. 400尘 360 320 200, 260 280 - DIE 240 - 200 1 LU 160 120 T 80 T 40 0 4080120 10 200 240 280 320 360...
The following graph displays four demand curves (LL, MM, NN, and
OO) that intersect at point A.1. Curve NN is more elastic between points A and D than curve MM
is between points A and C. (T/F)2. Between points A and C, curve MM is inelastic. (T/F)3. Between points A and B, curve LL is perfectly inelastic.
(T/F)
The following graph shows the demand for a good. For each of the regions listed in the following table, use the midpoint method to identify if the demand for this good is elastic (approximately) unit elastic, or inelastic. True or False: The value of the price elasticity of demand is equal to the slope of the demand curve. True False