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Cross-price elasticity<br />
· In the case of beef and pork<br />
· the ebp is not the same as epb<br />
· ebp is the % change in the demand for beef with<br />
respect to a % change in the price of pork<br />
· epb is the % change in the demand for pork with<br />
respect to a % change in the price of beef<br />
· beef may not be a good substitute for pork<br />
· pork may not be a good substitute for beef<br />
Fall '97 www.elearnuganda.net Slide 38
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