DP Economics Questionbank
Applications of cross price elasticity of demand
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Description
[N/A]Directly related questions
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21M.1.SL.TZ2.1b:
Discuss the importance of price elasticity of demand and cross price elasticity of demand for a firm’s decision making.
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18M.1.SL.TZ1.1b:
Examine the significance of both cross price elasticity of demand and income elasticity of demand for a firm.
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18M.3.HL.TZ0.1e:
Widgets and Pidgets have negative cross price elasticity of demand (XED).
Explain how the demand function for Widgets, Qd = 249 − 4P, is likely to change as a result of an increase in the price of Pidgets. -
19N.1.SL.TZ0.1b:
Evaluate the importance of cross price elasticity of demand for a business selling a good if the price of a related good increases.
