The Definition of Cross Elasticity of Demand for Two Products

question 179

Multiple Choice

The definition of cross elasticity of demand for two products X and Y is

• A)percentage change in quantity of X demanded/percentage change in quantity of Y demanded.
• B)percentage change in price of Y/percentage change in quantity of X demanded.
• C)percentage change in price of Y/percentage change in price of X.
• D)percentage change in quantity of X demanded/percentage change in price of Y.

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Definitions:

Copy Machine Drums

The component in a photocopier or laser printer that transfers the toner to the paper to produce the printed image.

Lightning Protectors

Devices designed to protect electrical equipment and systems from damage caused by lightning strikes, diverting the surge to the ground.

High Resistance

An electrical characteristic where a material or device opposes the flow of electric current, resulting in less current flow for a given voltage.

Selenium

An element that exhibits photosensitive properties. Its resistance changes inversely with illumination.