Inside look

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CROSS ELASTICTY OF DEMAND

[{"selector":"#anim-73225c1e-3521-4920-a7ca-b5c809cdc52a","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] When the price of one good affects the demand of another good. Curved Arrow

If the price of a shoe decreases, more of that shoe is purchased

[{"selector":"#anim-d6460c07-2d35-4b28-a1f2-e6ec1ee76b75","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Demand and Price are inversely related. Curved Arrow

Watch this scene and learn more about Cross elasticity of demand

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Inside look

Inside look

Inside look

Inside look

What is Cross-Elasticity of Demand?

CROSS ELASTICTY OF DEMAND

If the price of a shoe decreases, more of that shoe is purchased

Watch this scene and learn more about Cross elasticity of demand

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