Question

Cross elasticity of demand

Answer 1

hey..!!!

The cross elasticity of demand is the proportionate relation between percentage change in the quantity demanded of a good to the percentage change in the price of related goods.
in terms of formula we can find out -

cross elasticity of demand = percentage changes in quantity of X goods / percentage changes in price of a goods.

Answer 2

Answer:

Here's ur Answer Mate:-

The cross elasticity of demand is an economic concept that measures the responsiveness in the quantity demanded of one good when the price for another good changes. Alternatively, the cross elasticity of demand for complementary goods is negative.

Hope it helps uh!