Cross-price elasticity of demand between goods


Question:

Suppose the cross-price elasticity of demand between goods X and Y is -2. How much would the price of good Y have to change in order to change the consumption of good X by 10 percent?

Solution Preview :

Prepared by a verified Expert
Macroeconomics: Cross-price elasticity of demand between goods
Reference No:- TGS02091668

Now Priced at $20 (50% Discount)

Recommended (96%)

Rated (4.8/5)