Economics 9708 · AS & A Level · Price elasticity of demand

Price elasticity of demand — practice question

What does cross elasticity of demand mean?

  • Athe responsiveness of price of good X due to a change in demand of good Y
  • Bthe responsiveness of quantity demanded of a good due to a change in its price
  • Cthe responsiveness of quantity demanded of good X due to a change in quantity of good Y
  • Dthe responsiveness of quantity demanded of good X due to a change in the price of good Y

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