Economics
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Boundless Economics
Elasticity and its Implications
Other Demand Elasticities
Economics Textbooks Boundless Economics Elasticity and its Implications Other Demand Elasticities
Economics Textbooks Boundless Economics Elasticity and its Implications
Economics Textbooks Boundless Economics
Economics Textbooks
Economics
Concept Version 7
Created by Boundless

Cross-Price Elasticity of Demand

Substitutes

Substitutes

Two goods that are substitutes have a positive cross elasticity of demand: as the price of good Y rises, the demand for good X rises.

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    http://upload.wikimedia.org/wikipedia/commons/a/a8/Cross_elasticity_of_demand_substitutes.svg Public domain.

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