What empirical method generally is used to measure the degree to which products substitute for each other?

Question

Quizplus · Accepted Answer

Cross-price elasticity is a common empirical method used to measure the degree to which products substitute for each other. It measures the responsiveness of demand for a particular product to changes in the price of another product. If the cross-price elasticity coefficient is positive, it suggests that the two products are substitutes, while a negative coefficient indicates that they are complements. Therefore, A) is the best choice for this question.

What Empirical Method Generally Is Used to Measure the Degree