Question
Consider two goods X and Y. There was no change in price of X, but its demand increased from 5500 units to 6000 units. On
Consider two goods X and Y. There was no change in price of X, but its demand increased from 5500
units to 6000 units. On analysis it was found that price of another commodity Y has decreased from 250 to
225. Find out the cross-elasticity of demand between X and Y and the relationship between the two
commodities.
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International Economics
Authors: James Gerber
7th edition
134472098, 134523873, 978-0134472096
