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प्रश्न
What is meant by cross elasticity of demand?
What is the cross elasticity of demand?
उत्तर
Cross elasticity of demand measures, the responsiveness of demand for a commodity to a change in the price of other related commodity.
संबंधित प्रश्न
Degree of responsiveness of a change in quantity demanded to a change in the income of the consumer −
Assertion (A): A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.
Reasoning (R): Changes in consumers income leads to a change in the quantity demanded.
With the help of a diagram, explain the Relatively inelastic demand curve.
Assertion (A): A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.
Reasoning (R): Changes in consumers income leads to a change in the quantity demanded.
Assertion (A): A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.
Reasoning (R): Changes in consumers income leads to a change in the quantity demanded.
Calculate elasticity of demand on the basis of the following data.
| Price (Rs.) | Quantity (Kg) |
| 10 | 20 |
| 20 | 15 |
- Calculate the elasticity of demand.
- Is the demand elastic or inelastic?
Assertion (A): A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.
Reasoning (R): Changes in consumers income leads to a change in the quantity demanded.
Price elasticity of demand measures ______.
Define the term price elasticity of demand.
Why is price elasticity of demand negative?
