Ask Question
BusinessBusiness
27 September, 23:48

The formula for the cross-price elasticity of demand is percentage change in rev: Multiple Choice quantity demanded of B/percentage change in price of B. quantity demanded of B/percentage change in income. quantity demanded of B/percentage change in price of A. price of B/percentage change in quantity demanded of A.

+1
Answers (1)
  1. 27 September, 23:55
    0
    Quantity demanded of B/percentage change in price of A.

    Explanation:

    Cross price elasticity of demand is calculated as follows:

    = Percentage change in quantity demanded for Good B : Percentage change in price of good A

    Cross price elasticity of demand is positive for the substitute goods and negative for the complimentary goods.

    For Substitute goods:

    It states that there is a positive relationship between the price of a good and the quantity demanded for its substitute goods.

    For complimentary goods:

    It states that there is an inverse or negative relationship between the price of a good and the quantity demanded for its complimentary goods.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The formula for the cross-price elasticity of demand is percentage change in rev: Multiple Choice quantity demanded of B/percentage change ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
What can businesses do to prevent unexpected problems in global markets?
Answers (1)
Acort Industries owns assets that will have an 80% probability of having a market value of $50 million in one year. There is a 20% chance that the assets will be worth only $20 million.
Answers (1)
What is justice? are we achieving it? and what are the costs of justice (cost/benefit analysis) ? keep in mind, costs can be recognized in multiple denominations-think beyond finances to address larger issues?
Answers (1)
In 1990, the GDP of Canada was $680 billion as measured in Canadian dollars, and the exchange rate was that $1 Canadian was worth 85 U. S. cents.
Answers (1)
3. Project Manager John Boy has a policy of only using experienced, dependable, and proven sellers instead of selecting sellers through open competition as a means to manage procurement risk. What risk management technique is John Boy using? A.
Answers (1)
New Questions in Business
The auto repair shop of Quality Motor Company uses standards to control the labor time and labor cost in the shop. The standard labor cost for a motor tune-up is given below: Job Standard Hours Standard Rate Standard Cost Motor tune-up 1.50 $6.20 $9.
Answers (1)
Haberdash inc. last year reported sales of $12 million and an inventory turnover ratio of 3. the company is now adopting a just-in-time inventory system.
Answers (1)
Tara is responsible for the strategic planning retail planning process in her organization. She has identified the strategic opportunities. Which of the following steps is most likely Zara's next stage in the strategic retail planning process? A.
Answers (1)
During 2015, Blevert Co. introduced a new line of machines that carry a three-year warranty against manufacturer's defects.
Answers (1)
There are five stakeholders a company must consider when practicing social responsibility: Group of answer choices Employees Investors Environment Community Countries Customers Board of Directors
Answers (1)
Home » Business » The formula for the cross-price elasticity of demand is percentage change in rev: Multiple Choice quantity demanded of B/percentage change in price of B. quantity demanded of B/percentage change in income.
Sign Up Forgot Password?