The normal characteristics of smooth muscle: Smooth muscle is found in many different places in the human body: Unlike skeletal muscle, smooth muscle is generally not identifiable from gross observation of the body.
Demand can be classified as elastic, inelastic or unitary. An elastic demand is one in which the change in quantity demanded due to a change in price is large. An inelastic demand is one in which the change in quantity demanded due to a change in price is small. This is taken from a website at www.agmrc.org.
Supply is elastic if the price elasticity of supply is greater than 1 (es > 1), unit elastic if it is equal to 1 (es = 1), inelastic if it is less than 1 (es < 1), perfectly elastic when a small change in price changes the quantity supplied by an infinite amount (es = Ã¢ËÅ¾) and perfectly inelastic when the quantity supplied is unaffected by a change in price (es = 0).