It measures how demand for one good changes when the price of another typically related good does. Cross elasticity is one of the main types of demand elasticity. You can use the formula to make ...

The USTR details a new method for calculating tariffs based on trade imbalances, sparking debate over its impact on global ...

That was then divided by total exports. In the below formula "ε" represents price elasticity for import demand and was set at 4. Meanwhile, "φ" represents the elasticity of import prices and was ...