What is Cross Elasticity of Demand? Formula, Types, Example
The cross elasticity of demand can be defined as a measure of a proportionate change in the demand for goods as a result of a change in the price of related goods.
What is the Elasticity of Demand? Definition, Formula, Example, Types
Elasticity of demand is a degree of change in the quantity demanded of a product in response to its determinants, such as the price of the product, price of substitutes, and income of consumers.
