Economy, asked by ravatarjun04, 1 month ago

What is tha cross elastic of demand for complmantry goods

Answers

Answered by mahiahmed1066
0

Explanation:

The cross elasticity of demand for substitute goods is always positive because the demand for one good increases when the price for the substitute good increases. Alternatively, the cross elasticity of demand for complementary goods is negative.

Answered by swatiravibhadoriya12
0

Answer:

The cross elasticity of demand is an economic concept that measures the responsiveness in the quantity demanded of one good when the price for another good changes. Also called cross-price elasticity of demand, this measurement is calculated by taking the percentage change in the quantity demanded of one good and dividing it by the percentage change in the price of the other good.

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