Crossprice Elasticity Of Demand

Demand for most products is influenced by prices for other products. Such demand interrelationships are an important consideration in demand analysis and estimation.

substitutes

Related products for which a price increase for one leads to an increase in demand for the other complements

Related products for which a price increase for one leads to a reduction in demand for the other cross-price elasticity

Responsiveness of demand for one product to changes in the price of another

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