Question

examples for cross elasticity of demand​

Answer 1

Explanation:

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Explaining Cross Elasticity of Demand

For example, if the price of coffee increases, the quantity demanded for tea (a substitute beverage) increases as consumers switch to a less expensive yet substitutable alternative.

Answer 2

Answer:

if the price of coffee increases, the quantity demanded for tea (a substitute beverage) increases as consumers switch to a less expensive yet substitutable alternative.

Examples include pizza, bread, books and pencils. Similarly, perfectly elastic demand is an extreme example. But luxury goods, goods that take a large share of individuals' income, and goods with many substitutes are likely to have highly elastic demand curves.

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