In November 2024
Answer to Question #240629 in Economics of Enterprise for nete
The price for a good A has risen from 175 rub. to 210 rub. The demand for a good B has increased from 5400 units to 7100 units. Calculate the cross- price elasticity of demand?
Cross Elasticity Demand Formula
"E_{BA} = \\frac{Percentage \\;Change \\;in\\; Quantity \\;of\\; B}{Percentage \\;Change \\;in\\; Price \\;of\\; A} \\\\\n\nP_A = 210 \\\\\n\n\u0394P = 210-175 = 35 \\\\\n\nQ_B = 7100 \\\\\n\n\u0394Q = 7100-5400 = 1700 \\\\\n\n= \\frac{\\frac{\u0394Q_B}{Q_B}}{\\frac{\u0394P_A}{P_A}} \\\\\n\n= \\frac{\\frac{1700}{7100}}{\\frac{35}{210}} \\\\\n\n= \\frac{0.2394}{0.1666} \\\\\n\n= 1.437"
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