Title
(2) Cross Price Elasticity of Demand
Topic Category
Other Elasticities
Publication Date
2011
Keywords
Cross Price Elasticity, Substitutes, Complements
Abstract
This discusses the other types of demand elasticity. Particular attention is given to the Cross Price Elasticity of Demand, and the concept of substitute and complement goods. The two pieces of information that can be extracted from a cross price elasticity value are emphasized.
Recommended Citation
Crane, Steven E., "(2) Cross Price Elasticity of Demand" (2011). Principles of Microeconomics. Paper 61.
http://epublications.marquette.edu/microecon_learning/61
Run Time
7:20
Primary Discipline
Microeconomics
Skills Delivered
Ability to distinguish and explain the meaning of a cross price elasticity of demand. Ability to calculate and interpret cross price elasticity values.
Rigor Level
2000
Prerequisites
Previous Price Elasticity Videos