Economics A-Level
Cross elasticity of demand
What Cross elasticity of demand means in Economics A-Level, as defined for AQA.
Definition of Cross elasticity of demand
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Reference: AQA
Measures the responsiveness of demand for Good A to a change in the price of Good B.
Topics that use Cross elasticity of demand
- Price, income and cross elasticities of demand (AQA A-Level)
Related terms
- Cross Elasticity of Demand (XED)
- Income Elasticity of Demand (YED)
- Price Elasticity of Demand (PED)
- Revenue maximisation
- Business decision-making
- Complementary goods
- Consumer expenditure
- Inferior good
Using Cross elasticity of demand in the exam
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