Cross-price elasticity of demand measures how

A) the price of one good changes in response to a change in the price of another good.
B) the quantity demanded of one good changes in response to a change in the quantity demanded of another good.
C) the quantity demanded of one good changes in response to a change in the price of another good.
D) strongly normal or inferior a good is.

Question

Angelica Zheng · Accepted Answer

Final Answer : C, Explanation :  Cross-price elasticity of demand measures the responsiveness of the quantity demanded for one good in response to a change in the price of another good.

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