Question

What do you mean by cross elasticity of demand?​

Answer 1

Answer:

Definition of 'Cross Elasticity Of Demand' Definition: The measure of responsiveness of the demand for a good towards the change in the price of a related good is called cross price elasticity of demand. It is always measured in percentage terms. ... Related goods are of two kinds, i.e. substitutes and complementary goods.

Answer 2

Answer:

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Explanation:

The measure of responsiveness of the demand for a good towards the change in the price of a related good is called cross price elasticity of demand. It is always measured in percentage terms. ... Related goods are of two kinds, i.e. substitutes and complementary goods.