The cross price elasticity of demand measures how the demand for one good responds to price changes for another good.

All you need to know about demand elasticity and how it fluctuates based on changing variables.

Learn how income elasticity affects demand with our guide on definitions, formulas, and types, helping you understand ...

Perfect price elasticity is when demand moves infinitely given a price change, with an example being two producers of a commodity selling them side by side.

» MORE: What is excise tax? Factors influencing tax incidence We’ve seen how the elasticity of demand and supply is one of the main determinants of tax incidence.