Unit-4 Demand Function and Elasticity
In this unit we will be focussing on the consumer’s demand function for a good .
If cross elasticity of demand for X is 2.5 in terms of price of Y, is commodity X a substitute or complement of commodity Y?
In this unit we will be focussing on the consumer’s demand function for a good .
If cross elasticity of demand for X is 2.5 in terms of price of Y, is commodity X a substitute or complement of commodity Y?