Cross Price Elasticity of Demand (CPED) | |
| The Input Parameters | |
|
Initial Price of Good X (£) |
80 |
|
Initial Quantity of Good Y (Q) |
50 |
|
Final Price of Good X (£) |
40 |
|
Final Quantity of Good Y (Q) |
40 |
|
Price of Good Y (£) |
5 |
| Outputs | |
|
The CPED |
0.40 |
|
Original Total Revenue of Good Y (£) |
250 |
|
New Total Revenue of Good Y (£) |
200 |