Understanding Cross-Price and Own-Price Elasticity of Demand
Saturday October 31, 2009
It is a common topic in first year microeconomics courses that often confuses students. I hope this walkthrough helps - Price Elasticity - How to Use Cross Price and Own Price Elasticity.
Comments
The link to the article isn’t working for me.
I suppose that you are using a log-log model to estimate elasticity?
Cheers!
Not a question, but if one object is to avoid confusion, look again at the last sentence under ‘Own Price Elasticity — Answering the Question’