Question

the quantity demanded of product A has increased by 15% in response to a 18% increase in price of product B. calculate the cross elasticity of demand​

Answer 1

Answer:

The formula is as follows: CROSS PRICE ELASTICITY OF DEMAND = % change in quantity demanded for Product A / % change in price of product B. The number and answer from our formula can help us determine the relationship and how certain products interact with each other.

Explanation:

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Answer 2

Answer:

0.177 if we calculate 13% + 18% this our answer is 0.1 77