Economy, asked by noshinalinagaria, 5 months ago

Explain the difference between XED and YED

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Answered by shashi1979bala

Cross elasticity of demand (XED), which measures responsiveness of the quantity demanded of one good, good X, to a change in the price of another good, good Y. Income elasticity of demand (YED), which measures the responsiveness of quantity demanded to a change in consumer incomes.

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