Uses of the cross-price elasticities

Reference no: EM13197585

Market analysts often use cross-price elasticities to determine a measure of the “competitiveness” of a particular good in a market.

How might cross-price elasticities be used in this manner?

What would you expect the cross-price elasticity coefficient to be if the market for a good was highly competitive? Why?

Reference no: EM13197585

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