Economy, asked by shwetarath, 6 months ago

Explain the importance of the concept of cross elasticity of demand in a) formulating proper price strategy by a firm (b) in analyzing the degree of competition prevailing in an industry.

Answers

Answered by simranjeetr53019

0

Explanation:

The cross elasticity of demand measures the responsiveness in the quantity demanded of one good when the price changes for another good

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