suppose the crossprice elasticity of demand between goods is
suppose the cross-price elasticity of demand between goods is 1. how much would the price of good y have to change in order to change the consumption of good x by 20 percent
Solution
Percentage change in price of x/Percentage change in price of y = 1
20%/Percentage change in price of y = 1
Percentage change in price of y = 20%
