5. The variety of demand curves

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

200 180 160 140 120 100 PRICE (Dollars per unit) B 30 60 N 0 20 40 60 30 100 120 140 160 180 200 QUANTITY (Units) Using the graph, complete the table that follows by indicating whether each statement is true or false. Statement True False Between points A and D, curve NN is elastic. O O Curve NN is less elastic between points A and D than curve MM is between points A and C. O Activate Win Between points A and B, curve LL is perfectly elastic. O go to PC settings