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12 December, 00:39

What kind of elasticity is associated with the quantity and price effects exactly offsetting one another?

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  1. 12 December, 00:42
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    The kind of elasticity related is called cross price elasticity of demand which is a measure of how much the quantity demanded of one good responds to a change in the price of another one and this is computed as the percentage change in quantity demanded of the first good divided by the percentage change in the price of the second good.
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