Economics A Level: What is Cross Elasticity of Demand [XED]
-Give the Formula

Question

What is Cross Elasticity of Demand [XED] 
-Give the Formula

go kys · Accepted Answer

-Shows how Quantity Demanded for Good X responds via a Change in Price for Good Y
XED = % Change in Quantity Demanded [Qd] for Good X / % Change in Price [P] of Good Y
XED = % Change in Qd of Good X / % Change in P of Good Y

Economics A Level

What is Cross Elasticity of Demand [XED] -Give the Formula

-Shows how Quantity Demanded for Good X responds via a Change in Price for Good Y XED = % Change in Quantity Demanded [Qd] for Good X / % Change in Price [P] of Good Y XED = % Change in Qd of Good X / % Change in P of Good Y

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