Maharashtra State BoardHSC Commerce (Marketing and Salesmanship) 12th Board Exam
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Define Or Explain the Following Concept: Cross Elasticity of Demand - Economics

Short Note

Define or explain the following concept:

Cross Elasticity of Demand

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Solution

 Cross elasticity of demand is the measure of the responsiveness of demand for a good to a change in the price of a related good.

`"Ec" = ("Proportionate change in quantity demanded of good X")/("Proportionate change in price of good Y")`

Concept: Elasticity of Demand
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Chapter 4: Elasticity of Demand - Exercise [Page 31]
Q 1.1
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Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 4 Elasticity of Demand
Exercise | Q 1.1 | Page 31
2014-2015 (March) Set 1 (with solutions)
Q 2.a | 2 marks
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