The graph depicts five demand curves. Please rank each curve in terms of elasticity. A curve that is more elastic than another curve for any given quantity can be considered more elastic.

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keelybwithrow keelybwithrow

27-06-2022
Business

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The graph depicts five demand curves. Please rank each curve in terms of elasticity. A curve that is more elastic than another curve for any given quantity can be considered more elastic.

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monikachinwaal55 monikachinwaal55 · Answer 1 · 2022-06-29T09:05:15+02:00

From most elastic to inelastic: Elastic graphs look more horizontal while Inelastic graphs look more vertical.

What is elastic and inelastic demand curve?

Elastic demand curve indicates that the price changes greatly influenced the quantity demanded or supplied.

Inelastic demand curves indicates that a given percentage change in price will have a very smaller percentage change in quantity demanded or supplied.

Elastic demand curve is more sensitive to the price changes as compared to the Inelastic demand curve.

Learn more about the elastic and inelastic demand curve here:-

https://brainly.com/question/13572905

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