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.

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

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