Cross elasticity of demand (XED) 2.0 / 5 based on 2 ratings ? EconomicsMacroeconomic indicatorsA2/A-levelOCR Created by: JadeCreated on: 20-11-12 19:08 What is cross elasticity of demand? The responsiveness of demand for one product in relation to a change in the price of another product. 1 of 7 Cross elasticity of demand is measured by which formula? % change in quantity demanded in product A/% change in price of product B 2 of 7 A positive estimate indicates that the two products are..? Substitutes 3 of 7 A negative estimate indicates that the two products are? Complements 4 of 7 Where products are good or close substitutes, the value of XED will be ______ than if they are only modest substitutes. Higher 5 of 7 Heinz baked beans and tesco value baked beans are? Substitutes 6 of 7 A television and a DVD player are? Complements 7 of 7
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