Question

differentiate between positive and negative cross elasticity of demand . also commodities in which it is relevant​

Answer 1

Answer:

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. 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.

Explanation:

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Answer 2

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✧☞Complements: Two goods that complement each other have a negative cross elasticity of demand: as the price of good Y rises, the demand for good X falls. A positive cross-price elasticity value indicates that the two goods are substitutes. ... Two goods may also be independent of each other.

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