_____ elasticity of demand is a measure of how responsive the quantity demanded of one good is to changes in the price of another product.
A) Price
B) Income
C) Cross-price
D) Cross-income

Question

Quizplus · Accepted Answer

Cross-price elasticity of demand measures the responsiveness of the quantity demanded for a good to a change in the price of another good. It is used to determine how the demand for a product changes when the price of another product, either a complement or a substitute, changes.

_____ Elasticity of Demand Is a Measure of How Responsive