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The following graph displays four supply curves (LL, MM, NN, and OO) that intersect at point V. 8 PRICE (Dollars per unit) 8 9 Z

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The following graph displays four supply curves (LL, MM, NN, and OO) that intersect at point V. 8 PRICE (Dollars per unit) 8 9 Z 20 40 60 80 100 120 140 160 180 200 QUANTITY (Units) Using the graph, complete the table that follows by indicating whether each statement is true or false. Statement True False Curve LL is more elastic between points V and X than curve OO is between points V and Y. O O Between points V and Z, curve MM is perfectly inelastic. O O Between points V and X, curve LL is elastic. O O

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