[Solved] Which can be seen by the naked eye? A) m <sub>v</sub> = +10 B) m <sub>v</sub> = +18 C) m <sub>v</sub> = +6 D) m <sub>v</sub> = +8 Elastic: Describes a situation in which the demand or supply of a product is sensitive to changes in price, meaning a small change in price leads to a large change in the quantity demanded or supplied. Supply Curve: A graphical representation of the relationship between the price of a good and the quantity of the good supplied. Demand Curve: A graphical representation showing the inverse relationship between the price of a good or service and the quantity demanded by consumers. Demand: The desire and ability of consumers to purchase goods and services at given price levels.