K. Elasticity of Demand and Supply The following graph displays four demand curves (LL, MM, NN, and OO) that intersect at point A. (?) 400 360 320 280 E 240 200 PRICE (Dollars per unit) B 160 120 M 80 40 40 80 120 160 200 240 280 320 360 400 QUANTITY (Units) Using the graph, complete the table that follows by indicating whether each statement is true or false. Statement True False Between points A and E, curve OO is perfectly inelastic. O O 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, curve NN is elastic. O