This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What does the cross-price elasticity of demand measure? How is it calculated? What will be an ... (Read 80 times)

RRMR

  • Hero Member
  • *****
  • Posts: 557
on: Jun 29, 2018
What does the cross-price elasticity of demand measure? How is it calculated?
 
  What will be an ideal response?

Question 2

Organizing a successful firm in a market economy has become ________ over the last century.
 
  A) politically impossible B) less difficult
  C) legally impossible D) more difficult


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

underwood14

  • Sr. Member
  • ****
  • Posts: 346
Reply #1 on: Jun 29, 2018
Answer to Question 1

The cross-price elasticity of demand measures the responsiveness of the quantity of one good demanded to changes in the price of another good. It is calculated by dividing the percentage change in quantity of good Y demanded by the percentage change in the price of good X.

Answer to Question 2

D


RRMR

  • Member
  • Posts: 557
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

Liamb2179

  • Member
  • Posts: 365
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Cross Section of the Left Breast Cross Section of the Left Breast
Plasma protein binding and drug availability: (a) drug exists in a free state or bound to plasma pro Plasma protein binding and drug availability: (a) drug exists in a free state or bound to plasma pro
Performing a Spirometry Test to Measure Forced Vital Capacity Performing a Spirometry Test to Measure Forced Vital Capacity
The growth in demand for oil in China is driven by the growth in demand for personal transport The growth in demand for oil in China is driven by the growth in demand for personal transport
Find the factor demand for labour and the amount of output it will produce. Show all ... Find the factor demand for labour and the amount of output it will produce. Show all ...
Cross-regulatory interactions among gap genes Cross-regulatory interactions among gap genes
Video: Neuron structure and function - sensory neurons, association neurons & motor neurons

For a complete list of videos, visit our video library