Which of the following is true of the demand curves shown below? O None of them have constant price elasticity. O All of them have constant price elasticity. O Curves (1) and (3) have constant price elasticity. O Curves (2) and (3) have constant price elasticity. Let the price elasticity of demand for product t equal 2 (in absolute value). This implies that the demand for product t is elastic, because a 1 percent change in Pt changes th by 2 percent. elastic, because a 1 percent change in Pt changes th by 1 percent. inelastic, because a 1 percent change in Pt changes th by 1 percent. inelastic, because a 1 percent change in Pt changes th by 2 units. If the demand for movie tickets is price-elastic, then in absolute value Ed=1. Ed=0. Ed1