The effects on the demand for product A caused by a change in the price of product B is Called____________
A. Joint demand B. cross-elasticity of demand C. elasticity of supply D. competitive demand
Correct Answer: A
Explanation
Joint demand is when the demand for one product is directly and positively related to market demand for a related good or service. Example computer system and software. You need a software for a computer to function. If there is change in the price of a computer system, it will affect the demand for software.
