which elasticity of demand measures how the quality demanded of one good responds to a change in price of another good? income elasticity of demand compared elasticity of demand revenue elasticity of demand cross-price elasticity of demand g

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21-10-2022
Business

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which elasticity of demand measures how the quality demanded of one good responds to a change in price of another good? income elasticity of demand compared elasticity of demand revenue elasticity of demand cross-price elasticity of demand g

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shivanijain4931 shivanijain4931 · Answer 1 · 2022-10-24T14:38:54-04:00

The cross elasticity of demand measures how the quality demanded of one good responds to a change in price of another good.

Cross elasticity of demand or cross-fee elasticity of call for measures the share exchange of the quantity demanded for a great to the proportion alternate inside the price of every other accurate, ceteris paribus.

Cross elasticity of demand for refers to the share alternate in the amount demanded of a given product due to the proportion alternate in the price of another "related" product. instance: the pass elasticity of demand of butter with recognize to margarine is zero.eighty one, so 1% growth inside the fee of margarine will growth the call for for butter by means of zero.81%. implies items are enhances. clients buy much less B when the charge of A will increase.

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