cross elasticity of demand

Measurement of Cross Elasticity of Demand

Leave a Comment / Microeconomics, Study Materials / Enotes World

Cross elasticity of demand measures the degree of responsiveness of the quantity demand for one good to the change in the price of any other related good, keeping other things the same. For the business firms, cross elasticity of demand is useful to see the competitors and determine their strategy accordingly. Goods and services can […]

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Concept and Degree of Cross Elasticity of Demand

Leave a Comment / Microeconomics, Study Materials / Enotes World

Concept of Cross Elasticity of Demand The quantity demand of anyone commodity is affected by the change in not only its price but also by a change in the prices of related commodities. The effect changes in quantity demand of any one particular good due to the change in prices of other related goods is

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