What is cross elasticity of demand? - Vidyadip

Question

What is cross elasticity of demand?

✓

Answer

Cross elasticity of demand measures, the responsiveness of demand of a commodity to a change in the price of other related commodity.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "[1 Mark Question Answer]" from Elasticity of Demand→Elasticity of Demand — all question types→Economics STD 10 question papers→ICSE Board STD 10 question papers→ICSE Board question paper generator→

Similar questions

What is demand function?

What is a demand schedule?

Give two reasons for the shift of the demand curve towards the left.

What is the basic aim of the Consumer Protection Act 2019?

What do you mean by productivity of land?

What legal measures were taken by the government to empower the consumers in India?

State 3 factors which affect price elasticity of demand.

What causes a downward movement along a supply curve?

How does a increase in the number of firms in a market affect the market supply curve?

What does a rightward shift of demand curve indicate?