Cross-Price Elasticity of Demand

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 (E_XY): The calculator computes the Cross-Price Elasticity of Demand.  Note elasticity is rounded to the nearest 1/1000^th

The Math / Science

The formula for Cross-Price Elasticity of Demand is:

    E_XY = (%ΔQ_X) / (%ΔP_Y)

where:

• E_XY is the cross-price elasticity of demand
• %ΔQ_X is the percent change in demand of product X
• %ΔP_Y 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.