Statement True FalseCurve NN is more elastic between points A and D than curve MM is between points A and C. Between points A an

Question

dimulka [17.4K]

3 years ago

14

Statement True FalseCurve NN is more elastic between points A and D than curve MM is between points A and C. Between points A an

d D, curve NN is inelastic. Between points A and E, curve OO is perfectly elastic.

Business

1 answer:

hoa [83] · Answer 1 · 2022-07-24T20:48:35+03:00

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.

<u>Explanation:</u>

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.