Cross elasticity of demand measures how sensitive purchases of a specific product are to changes in:
a. the price of some other product.
b. the price of that same product.
c. income.
d. the general price level.
Answer: A
Cross elasticity of demand measures how sensitive purchases of a specific product are to changes in:
a. the price of some other product.
b. the price of that same product.
c. income.
d. the general price level.
Answer: A