Microeconomics - 54: Complements
Example: Price of pizza is constant and people buy 11 pizzas/hr. Soft drink increases from $1.50 to $2.50. No other influence on buying plans changes and the quantity of pizza bought falls to 9 an hour. What is the cross elasticity of demand? Microeconomics - 53: Substitutes: http://www.youtube.com/watch?v=pwd7AuGNN3U Microeconomics - 55: Income Elasticity of Demand: http://www.youtube.com/watch?v=gxPPtuR2R3Y **Please rate, comment, and subscribe!!