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Micro Theme 1 > LS15 - XED > Flashcards

LS15 - XED Flashcards

1
Q

Cross Price Elasticity Of Demand (XED)

A

A measure of the responsiveness of demand for one good to changes in the price of another good.

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2
Q

XED Equation

A

Percentage Change In The Quantity Demanded Of Product A/Percentage Change In The Price Of Product B

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3
Q

XED>0

A

Substitutes

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4
Q

XED<0

A

Complements

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5
Q

XED = 0

A

No Relationship

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