Cross elasticity of demand can be mathematically expressed as the
- \(\frac{\text{% change in quantity of commodity X}}{\text{% change in quantity of commodity Y}}\)
- \(\frac{\text{% change in quantity demanded}}{\text{% change in price}}\)
-
\(\frac{\text{% change in quantity demanded of commodity X}}{\text{% change in price of commodity Y}}\)
- \(\frac{\text{% change in quantity demanded}}{\text{% change in income}}\)