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Cross Price Elasticity

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Where does cross-price elasticity information become more important, in a competitive industry with a lot of sellers, or a more oligopolic industry with few sellers. Detailed explanation and graph if applicable.

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The cross-price elasticity of demand between two products is clarified.

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Where does cross-price elasticity information become more important, in a competitive industry with a lot of sellers, or a more oligopolic industry with few sellers. Detailed explanation and graph if applicable.

The cross-price elasticity of demand between two products measures the effect on the demand for one product of a change in the price of another product - a 'high' positive value of the cross-price elasticity ...

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