Economy, asked by rm3154923, 4 months ago

Which could be positive cross elasticity demand between Butter
and Jam

Answers

Answered by ambersharin

0

Answer:

butter is the more positive cross elasticity demand between butter and jam

Answered by ArunSivaPrakash

0

Cross elasticity of demand is an economic concept that measures the degree of responsiveness in the quantity demanded of one product when the price of another product changes.

Positive cross elasticity of demand means that the demand for good A will increase the price of good B be goes up.
This means that the product A and B are close substitutes to each other so if B gets more expensive people are happy to switch to A.
For example, if the price of Thumbs Up goes up some people would like to switch to To Coca Cola.
Butter and jam are not a close substitute for each other. Butter is used for cooking purposes as well.

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