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MICROECONOMICS CH : 5 THEORY OF DEMAND — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 5 THEORY OF DEMAND2 Marks
Question
What is cross price effect?
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Answer

Cross price effect refers to the effect of change in the price of commodity-X on the demand for commodity-Y when X and Y are related goods (X and Y are either substitute goods or complementary goods).

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