<ol>
<li>$P_2 = 8$, so $Q_1= 8^{2/3}=4$ </li>
<li>To find the cross price elasticity, differentiate demand for good 1 with respect to $P_2$: $\frac{dQ_1}{dP_2}=\frac{2}{3}P_2^{-1/3}$
When $P_2=2$, cross price elasticity is $\frac{2}{3}(2)^{-1/3}$</li>
</ol>

<p>Hope you did post a question here after really thinking it through.</p>

CC BY-SA 4.0
2018-05-20T17:06:39.470Z
2018-05-20T17:06:39.470Z
J Tg
<p>If Q1=(P2)⅔
1. Determine the demand for good 1, when the price of good 2 is 8
2. Find the cross elasticity of demand for good 1, with respect to P2, when P2=2</p>

CC BY-SA 4.0
2018-05-20T19:47:28.717Z
What is your attempt to solve? And you may want to use MathJax -- https://math.meta.stackexchange.com/questions/5020/mathjax-basic-tutorial-and-quick-reference
Green.H
<microeconomics>
Cross elasticity of demand
Nelly Irungu
# Cross elasticity of demand

(Asked by: username_0 on 2018-05-20)

If Q1=(P2)⅔
1. Determine the demand for good 1, when the price of good 2 is 8
2. Find the cross elasticity of demand for good 1, with respect to P2, when P2=2

**Tags:** microeconomics

> **Comments:**
> **username_1**: What is your attempt to solve? And you may want to use MathJax -- https://math.meta.stackexchange.com/questions/5020/mathjax-basic-tutorial-and-quick-reference  

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## 1 answers

### Answer by username_2 on 2018-05-20. Score: 1 | Accepted answer

1. $P\_2 = 8$, so $Q\_1= 8^{2/3}=4$
2. To find the cross price elasticity, differentiate demand for good 1 with respect to $P\_2$: $\frac{dQ\_1}{dP\_2}=\frac{2}{3}P\_2^{-1/3}$
   When $P\_2=2$, cross price elasticity is $\frac{2}{3}(2)^{-1/3}$

Hope you did post a question here after really thinking it through.


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