The Cross-Price Elasticity of Demand calculator computes the ratio that indicates how the demand change in one product responds to the price change in another.
INSTRUCTIONS Enter the following:
- (CDA) Percent change in the demand of Product 1
- (CPB) Percent change in the price of Product 2
Cross-Price Elasticity of Demand (EXY): The calculator computes the Cross-Price Elasticity of Demand. Note elasticity is rounded to the nearest 1/1000th
The Math / Science
The formula for Cross-Price Elasticity of Demand is:
EXY = (%ΔQX) / (%ΔPY)
where:
- EXY is the cross-price elasticity of demand
- %ΔQX is the percent change in demand of product X
- %ΔPY is the percent change in the price of product Y
Macroeconomics Calculators
- Income Elasticity of Demand
- Cross-Price Elasticity of Demand
- Price Elasticity of Demand
- Price Elasticity of Supply
- Total Surplus
- Consumer Surplus
- Producer Surplus
- GDP Growth
- GDP Deflator
- GDP by Income
- GDP Expenditure
- Net Capital Outflow
- Net Exports and Net Capital Outflow
- Dollar Conversion from Different Times
- Unemployment Rate (Friedman and Phelps)
- National Saving
- Domestic Investment
- Unemployment Rate
- Inflation Rate in Year 2 (using CPI)
- Labor Force
- Labor-Force Participation Rate
- Net Exports
- Real Exchange Rate
- Currency Converter
- Midpoint Method for Price Elasticity of Demand
- Income Elasticity of Demand
- Simple Price Elasticity of Demand
Reference:
- “Chapter 7 Consumer Choice and Elasticity.” AP Microeconomics 2018, by Eric R. Dodge, McGraw Hill Education, 2017.
- Mankiw, N. Gregory. "Chapter 5:Other Demand Elasticities." Principles of Microeconomics. 6th ed. Mason, OH: Thomson/South-Western, 2004. 97. Print.
