Question

Cross elasticity of demand is the percentage change in the quantity __________ of a good divided by the percentage change in __________. Group of answer choices demanded; the price of the good supplied; the price of the good demanded; the price of another good supplied; the price of another good demanded; income

Answer 1

Answer:

demanded;

the price of another good demanded

Step-by-step explanation:

Cross price elasticity of demand measures the responsiveness of quantity demanded of good A to changes in price of good B.

cross price elasticity of demand = percentage change in quantity demanded of good A / percentage change in price of good B

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Income elasticity of demand measures the responsiveness of quantity demanded to changes in income.