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they're unrelated goods ie. track pants and potato chips
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If the value of the cross price elasticity of demand between two goods is approximately zero they are considered?
unrelated
Cross elasticity of demand?
In economics , the cross elasticity of demand and cross price elasticity of demand measures the responsiveness of the quantity demand of a good to a change in the price of another good.
What are the 3 types of elasticity?
1)price elasticity of demand 2)income elasticity of demand 3)cross elasticity of demand
What are different types of elasticity?
The elasticity of demand refers to how sensitive the demand for a good is to changes in other economic variables. The different types are: price elasticity, income elasticity, cross elasticity and advertisement elasticity.
What will be the elasticity when marginal revenue is zero?
unit elastic
If the value of the cross price elasticity of demand between two goods is approximately zero they are considered?
unrelated
Would the concepts of cross elasticity of cross elasticity of demand and income elasticity of demand be of any interest to a pharmaceutical company?
I am at a loss for the answer please help me.
Cross elasticity of demand?
In economics , the cross elasticity of demand and cross price elasticity of demand measures the responsiveness of the quantity demand of a good to a change in the price of another good.
Uses of cross elasticity of demand?
Cross elasticity in economics, also referred to as cross-price elasticity is used to measure the changes of the demand of a certain commodity to the price changes of another good.
In economics what are the types of elasticity?
price elasticity income elasticity cross elasticity promotional elasticity
What are the 3 types of elasticity?
1)price elasticity of demand 2)income elasticity of demand 3)cross elasticity of demand
What is cross price elasticity?
Cross price elasticity of demand measures the responsivenss of demand for a product to a change in the price of another good.
What are different types of elasticity?
The elasticity of demand refers to how sensitive the demand for a good is to changes in other economic variables. The different types are: price elasticity, income elasticity, cross elasticity and advertisement elasticity.
What is cross price elasticity demand?
Cross price elasticity of demand measures the responsivenss of demand for a product to a change in the price of another good.
Example of Cross elasticity of demand?
449.0
What will be the elasticity when marginal revenue is zero?
unit elastic
Importance of cross elasticity of demand?
Cross elasticity of demand is sometimes written as XED. In business the cross elasticity of demand is important because it will help determine whether or not it is a good move to increase or decrease prices or to substitute one product for another for the purpose of revenue.
