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Keywords:
Complement,
Quantity,
Demand,
Substitute,
Good
The percentage change in the quantity demanded of good X resulting from a 1 percent change in the price of some other good Y
A measure of the extent to which the demand for a good changes when the price of a substitute or complement changes, other things remaining the same. (p. 125)
The percentage change in the quantity demanded of a product divided by the percentage change in the price of a substitute or complement good.
The change in the quantity demanded of one product or service impacting the change in demand for another product or service.
In economics, the cross elasticity of demand or cross price elasticity of demand measures the responsiveness of the quantity demanded of a good to a change in the price of another good.
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