What is cross price elasticity????explain it with example.....
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The cross-price elasticity of demand measures the responsiveness of the quantity demanded of one good when compared with a change in the price of another good. ... For example, if theprice of hamburger meat increases, the demand for American Cheese will decrease.......
The cross-price elasticity of demand measures the responsiveness of the quantity demanded of one good when compared with a change in the price of another good. ... For example, if theprice of hamburger meat increases, the demand for American Cheese will decrease.......
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