Advertisement Remove all ads

Define Or Explain the Following Concept: Cross Elasticity of Demand - Economics

Short Note

Define or explain the following concept:

Cross Elasticity of Demand

Advertisement Remove all ads

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")`

  Is there an error in this question or solution?
Advertisement Remove all ads

APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 4 Elasticity of Demand
Exercise | Q 1.1 | Page 31
Advertisement Remove all ads

Video TutorialsVIEW ALL [1]

Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×