Between points a and e curve oo is unit elastic

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Statement True FalseCurve NN is more elastic between points A and D than curve MM is between points A and C. Between points A and D, curve NN is inelastic. Between points A and E, curve OO is perfectly elastic.

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

Between points A and D, curve NN is inelastic. True.

Between points A and E, curve OO is perfectly elastic. True.

Explanation:

In Economics, elasticity is the estimation of the relative difference in a monetary variable because of an adjustment in another. It shows how simple it is for the provider and buyer to change their conduct and substitute another great, the quality of a motivating force over decisions per the relative open door cost.

Elasticity of demanded quantifies how the measure of good changes when its cost goes up or down. Flexibility is a proportion of the affectability of factors to a modification in another variable.


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