Answer to Question #324181 in Macroeconomics for Khulud

Question

Coross price elasticity of a gquantity demand 807.184 ant px =5 py = 15?

Answer 1

Also called cross-price elasticity of demand, this measurement is calculated by taking the percentage change in the quantity demanded of one good and dividing it by the percentage change in the price of the other good.

Therefore;

cross price of quantity demanded$=\frac{percentage change in quantity demanded for Product A}{ percentage change in price of product B}$

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