The sensitivity of the change in quantity consumed of one good to a change in the price of a related good is called
A)cross-elasticity.
B)substitute elasticity.
C)complementary elasticity.
D)price elasticity of demand.

Question

Quizplus · Accepted Answer

The sensitivity of the change in quantity consumed of one good to a change in the price of a related good is known as cross-elasticity. It measures the percentage change in quantity of one good demanded in response to a percentage change in the price of a related good.

The Sensitivity of the Change in Quantity Consumed of One