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Ch. 4 - ElasticityWorksheetSee all chapters

# Cross-Price Elasticity of Demand

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Sections
Percentage Change and Price Elasticity of Demand
Elasticity and the Midpoint Method
Price Elasticity of Demand on a Graph
Determinants of Price Elasticity of Demand
Total Revenue Test
Total Revenue Along a Linear Demand Curve
Income Elasticity of Demand
Cross-Price Elasticity of Demand
Price Elasticity of Supply
Price Elasticity of Supply on a Graph
Elasticity Summary
###### Cross-price Elasticity of Demand helps us identify substitutes and complements.

Concept #1: Cross-Price Elasticity of Demand

Practice: An increase in the demand for chicken, from 8,000 to 12,000, was caused by an increase in the price of beef from $4.50 to$5.50. Therefore, the cross-price elasticity for these two products is: