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Q: What does it mean cross elasticity is infinity?
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Related questions

What will be the shape of an isoquant when the elasticity of substitution is infinity?

when the elasticity of substitution is infinity the isoquant will be a straight line sloping downward towards right.


Would the concepts of cross elasticity of cross elasticity of demand and income elasticity of demand be of any interest to a pharmaceutical company?

I am at a loss for the answer please help me.


Cross elasticity of demand?

In economics , the cross elasticity of demand and cross price elasticity of demand measures the responsiveness of the quantity demand of a good to a change in the price of another good.


Uses of cross elasticity of demand?

Cross elasticity in economics, also referred to as cross-price elasticity is used to measure the changes of the demand of a certain commodity to the price changes of another good.


In economics what are the types of elasticity?

price elasticity income elasticity cross elasticity promotional elasticity


What are the 2 extreme situations of price elasticity of demand?

The two extreme ranges of price elasticity of demand are Zero and Infinity.


What are the 3 types of elasticity?

1)price elasticity of demand 2)income elasticity of demand 3)cross elasticity of demand


When cross elasticity is zero what does it mean?

they're unrelated goods ie. track pants and potato chips


What is cross price elasticity?

Cross price elasticity of demand measures the responsivenss of demand for a product to a change in the price of another good.


Give an example where there is perfectly elastic demand i.e elasticity infinity?

life


What are different types of elasticity?

The elasticity of demand refers to how sensitive the demand for a good is to changes in other economic variables. The different types are: price elasticity, income elasticity, cross elasticity and advertisement elasticity.


What is cross price elasticity demand?

Cross price elasticity of demand measures the responsivenss of demand for a product to a change in the price of another good.