The cross elasticity of demand tells you how your customers will react to a change in your product's price. It is a way to mathematically measure the amount you can increase an item's price before ...

Demand elasticity is a phenomenon where demand for a specific good or service changes depending on factors such as how it is priced, whether alternatives are available or local income trends.

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. David Kindness is a Certified Public ...