Cross elasticity of demand (old syllabus)

IB Economics: Cross elasticity of demand (old syllabus)

This lesson focuses on the last of the types of economic elasticity, cross elasticity of demand. A good way of introducing this topic is to provide examples of how various businesses use cross price elasticity theory to generate additional revenue for their business. Examples of questions you might like to use to start your class include:Why is it that many bars / cafes provide salty snacks free of charge?

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