After the price of good A increased by 30%, the volume of demand for good B increased by 15%. The cross-elasticity
| November 26, 2020 | education
After the price of good A increased by 30%, the volume of demand for good B increased by 15%. The cross-elasticity coefficient of demand for good B at the price of A is ….
Decision:
Ex = ∆Qx% / ∆Qp%
Ex = 15% / 30% = 0.5
Since the cross-elasticity coefficient shows how many percent the volume of demand for one product will change when the price of another product increases by one percent.
One of the components of a person's success in our time is receiving modern high-quality education, mastering the knowledge, skills and abilities necessary for life in society. A person today needs to study almost all his life, mastering everything new and new, acquiring the necessary professional qualities.
