Why is cross-price elasticity of demand useful to a firm accused of being a monopolist?答得出的同学请给100-200字的英文的回答~最佳答案我会再加一倍分数的~

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Why is cross-price elasticity of demand useful to a firm accused of being a monopolist?答得出的同学请给100-200字的英文的回答~最佳答案我会再加一倍分数的~
Why is cross-price elasticity of demand useful to a firm accused of being a monopolist?
答得出的同学请给100-200字的英文的回答~最佳答案我会再加一倍分数的~

Why is cross-price elasticity of demand useful to a firm accused of being a monopolist?答得出的同学请给100-200字的英文的回答~最佳答案我会再加一倍分数的~
Because you can argue that if your cross-price elasticity is positive relative to another product,you then do not possess any exclusiveness to the product.
In another word,being a monopolist,you possess market power,this is mainly because you are selling a exclusive good,that there is no where else the consumer can get it from.
So if you rise your price,some consumer may leave,but the others will stay.
However,if it is the case that the price elasticity of demand of your product is positive compared to other goods,that is,if you rise your price by 1 percent,the demand of a second good increases by a certain percentage,then it must be true that there exists other firms or company that sells goods which could potentially replace your product,then you are no longer a monopolist since you dont produce an exclusive good.
This is why you could use cross-price elasticity of demand to determine whether a firm is a monopolist
BTW:dont use what i just said for your exam,its just too casual,take the ideas and build up on it.ECON111 is boring,im off to ACST211 hope i did help you.

Why is cross-price elasticity of demand useful to a firm accused of being a monopolist?答得出的同学请给100-200字的英文的回答~最佳答案我会再加一倍分数的~ Cross-price elasticity of demand什么意思 What is your product price i.e for your part . 求高手回答有关5,13和CROSS FINGER的问题why people think 5 and 13 is bad luck?why do people cross their fingers to wish good luck to someone?when do people cross oneselfe?用英语答~ why is the letter E so important? Why is the letter E so important? why is letter eso important? he Red Cross goes into areas C help is badly needed.A.why B.which C.where Dhe Red Cross goes into areas help is badly needed.A.why B.which C.where D.that为什么是c MBA题Suppose the cross-price elasticity of demand between goods X and Y is 4.How much would the price of good Y have to change in order to change the consumption of good X by 20 percent? the price is steepinterpret! the price is raised? the price is 4.For each of the pairs of goods listed in column A write in the correct cross price elasticity from column Bn into the Answer Column.Each cross price elasticity in B is used exactly once.This is a matching question,you are trying to match the pairs What do you think is the most important factor that leads you to buy something,price,quality why? A)kinked demand.折弯的需求B)monopolistic pricing.垄断定价C)price escalation.价格上升D)price de-escalation.价格下降E)price oligopoly.寡头垄断价格When there is a disproportion in price between the exporting country and the import 为啥是why the chicken cross the street而不是why do the chicken cross the street 脑筋急转弯:Why is the letter E so important? why is the letter E so important?Because