{"id":5405,"date":"2019-02-14T09:46:18","date_gmt":"2019-02-14T04:16:18","guid":{"rendered":"http:\/\/astan.lk\/al_virtualclassroom\/?p=5405"},"modified":"2019-02-16T10:01:53","modified_gmt":"2019-02-16T04:31:53","slug":"cross-price-elasticity-of-demand","status":"publish","type":"post","link":"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/","title":{"rendered":"Cross price elasticity of demand."},"content":{"rendered":"<p><strong>Responsiveness of a change in quantity demand of other good to a change in price of the good concerned is explained as cross elasticity of demand.<\/strong><br \/>\n<strong>Cross elasticity of demand can be computed as follows<\/strong><\/p>\n<ul>\n<li><strong>Cross elasticity of demand = Percentage change in quantity demand of good X \/ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Percentage change in price of good Y<\/strong><\/li>\n<\/ul>\n<p style=\"text-align: left;\"><strong>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 (Exy = \u0394QDX% \/ \u0394PY% )<\/strong><\/p>\n<ul>\n<li>When cross price elasticity is calculated , the answer is explained as coefficient of cross price elasticity of demand.<\/li>\n<\/ul>\n<h3 style=\"text-align: left;\"><span style=\"color: #000000;\"><strong>Goods can be classified according to the coefficient of cross price elasticity\u00a0<\/strong><strong>of demand as<\/strong><\/span><\/h3>\n<ul>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">Substitutes<\/span><\/li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">Complementary goods<\/span><\/li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">If there is a positive slope of the demand curve which is drawn with substitute goods<\/span><\/li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">If there is a negative relation ship between the price of one good to the quantity of other good, then the goods are said to be complements.<\/span><\/li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">There is a negative slope of the demand curve which is drawn with complementary goods.<\/span><\/li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">If the cross elasticity of demand is zero that means there is no relationship between the two goods.( Unrelated goods)<\/span><\/li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">Cross elasticity of demand can be used practically as follows,<\/span><\/li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">To realize interrelationship between two goods.<\/span><\/li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">To recognize the quantity of production function to compiling economic policies.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Responsiveness of a change in quantity demand of other good to a change in price of the good concerned is explained as cross elasticity of demand. Cross elasticity of demand can be computed as follows Cross elasticity of demand = Percentage change in quantity demand of good X \/ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 [&hellip;]<\/p>\n","protected":false},"author":842,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[54,2681],"tags":[],"class_list":["post-5405","post","type-post","status-publish","format-standard","hentry","category-economics","category-unit-2-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cross price elasticity of demand. - Learning &amp; Education Portal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cross price elasticity of demand. - Learning &amp; Education Portal\" \/>\n<meta property=\"og:description\" content=\"Responsiveness of a change in quantity demand of other good to a change in price of the good concerned is explained as cross elasticity of demand. Cross elasticity of demand can be computed as follows Cross elasticity of demand = Percentage change in quantity demand of good X \/ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/\" \/>\n<meta property=\"og:site_name\" content=\"Learning &amp; Education Portal\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-14T04:16:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-02-16T04:31:53+00:00\" \/>\n<meta name=\"author\" content=\"Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/\"},\"author\":{\"name\":\"Admin\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/person\/ffb0504e2cfb71518790b2fffd668c59\"},\"headline\":\"Cross price elasticity of demand.\",\"datePublished\":\"2019-02-14T04:16:18+00:00\",\"dateModified\":\"2019-02-16T04:31:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/\"},\"wordCount\":203,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#organization\"},\"articleSection\":[\"Economics\",\"Unit 2\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/\",\"url\":\"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/\",\"name\":\"Cross price elasticity of demand. - Learning &amp; Education Portal\",\"isPartOf\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#website\"},\"datePublished\":\"2019-02-14T04:16:18+00:00\",\"dateModified\":\"2019-02-16T04:31:53+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/astan.lk\/al_virtualclassroom\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cross price elasticity of demand.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#website\",\"url\":\"https:\/\/astan.lk\/al_virtualclassroom\/\",\"name\":\"Learning &amp; Education Portal\",\"description\":\"Astan\",\"publisher\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/astan.lk\/al_virtualclassroom\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#organization\",\"name\":\"Learning &amp; Education Portal\",\"url\":\"https:\/\/astan.lk\/al_virtualclassroom\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/astan.lk\/al_virtualclassroom\/wp-content\/uploads\/2016\/11\/logo.png\",\"contentUrl\":\"https:\/\/astan.lk\/al_virtualclassroom\/wp-content\/uploads\/2016\/11\/logo.png\",\"width\":340,\"height\":51,\"caption\":\"Learning &amp; Education Portal\"},\"image\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/person\/ffb0504e2cfb71518790b2fffd668c59\",\"name\":\"Admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f76e3d5e4e7064c8c128567b8ab726a35a2d3ac22ff5a60d673f87b8d4ee7333?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f76e3d5e4e7064c8c128567b8ab726a35a2d3ac22ff5a60d673f87b8d4ee7333?s=96&d=mm&r=g\",\"caption\":\"Admin\"},\"sameAs\":[\"http:\/\/lk.preceptor1\"],\"url\":\"https:\/\/astan.lk\/al_virtualclassroom\/author\/astan-preceptor1\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Cross price elasticity of demand. - Learning &amp; Education Portal","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/","og_locale":"en_US","og_type":"article","og_title":"Cross price elasticity of demand. - Learning &amp; Education Portal","og_description":"Responsiveness of a change in quantity demand of other good to a change in price of the good concerned is explained as cross elasticity of demand. Cross elasticity of demand can be computed as follows Cross elasticity of demand = Percentage change in quantity demand of good X \/ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 [&hellip;]","og_url":"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/","og_site_name":"Learning &amp; Education Portal","article_published_time":"2019-02-14T04:16:18+00:00","article_modified_time":"2019-02-16T04:31:53+00:00","author":"Admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/#article","isPartOf":{"@id":"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/"},"author":{"name":"Admin","@id":"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/person\/ffb0504e2cfb71518790b2fffd668c59"},"headline":"Cross price elasticity of demand.","datePublished":"2019-02-14T04:16:18+00:00","dateModified":"2019-02-16T04:31:53+00:00","mainEntityOfPage":{"@id":"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/"},"wordCount":203,"commentCount":0,"publisher":{"@id":"https:\/\/astan.lk\/al_virtualclassroom\/#organization"},"articleSection":["Economics","Unit 2"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/","url":"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/","name":"Cross price elasticity of demand. - Learning &amp; Education Portal","isPartOf":{"@id":"https:\/\/astan.lk\/al_virtualclassroom\/#website"},"datePublished":"2019-02-14T04:16:18+00:00","dateModified":"2019-02-16T04:31:53+00:00","breadcrumb":{"@id":"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/astan.lk\/al_virtualclassroom\/cross-price-elasticity-of-demand\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/astan.lk\/al_virtualclassroom\/"},{"@type":"ListItem","position":2,"name":"Cross price elasticity of demand."}]},{"@type":"WebSite","@id":"https:\/\/astan.lk\/al_virtualclassroom\/#website","url":"https:\/\/astan.lk\/al_virtualclassroom\/","name":"Learning &amp; Education Portal","description":"Astan","publisher":{"@id":"https:\/\/astan.lk\/al_virtualclassroom\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/astan.lk\/al_virtualclassroom\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/astan.lk\/al_virtualclassroom\/#organization","name":"Learning &amp; Education Portal","url":"https:\/\/astan.lk\/al_virtualclassroom\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/logo\/image\/","url":"https:\/\/astan.lk\/al_virtualclassroom\/wp-content\/uploads\/2016\/11\/logo.png","contentUrl":"https:\/\/astan.lk\/al_virtualclassroom\/wp-content\/uploads\/2016\/11\/logo.png","width":340,"height":51,"caption":"Learning &amp; Education Portal"},"image":{"@id":"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/person\/ffb0504e2cfb71518790b2fffd668c59","name":"Admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f76e3d5e4e7064c8c128567b8ab726a35a2d3ac22ff5a60d673f87b8d4ee7333?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f76e3d5e4e7064c8c128567b8ab726a35a2d3ac22ff5a60d673f87b8d4ee7333?s=96&d=mm&r=g","caption":"Admin"},"sameAs":["http:\/\/lk.preceptor1"],"url":"https:\/\/astan.lk\/al_virtualclassroom\/author\/astan-preceptor1\/"}]}},"_links":{"self":[{"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/posts\/5405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/users\/842"}],"replies":[{"embeddable":true,"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/comments?post=5405"}],"version-history":[{"count":5,"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/posts\/5405\/revisions"}],"predecessor-version":[{"id":6616,"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/posts\/5405\/revisions\/6616"}],"wp:attachment":[{"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/media?parent=5405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/categories?post=5405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/tags?post=5405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}