The 'Concept of cross Elasticity of Demand' was given by
A. Moor
B. Marshall
C. Robert Triffin
D. None of these
Answer: Option A
Join The Discussion
Comments (1)
Related Questions on Economics
The capital that is consumed by an economy or a firm in the production process is known as
A. Capital loss
B. Production cost
C. Dead-weight loss
D. Depreciation
Who propounded the opportunity cost theory of international trade?
A. Ricardo
B. Marshall
C. Heckscher & Ohlin
D. Haberler
Which among the following statement is INCORRECT?
A. On a linear demand curve, all the five forms of elasticity can be depicted
B. If two demand curves are linear and intersecting each other, then, coefficient of elasticity would be same on different demand curves at the point of intersection.
C. If two demand curves are linear and parallel to each other, then, at a particular price, the coefficient of elasticity would be different on different demand curves.
D. The price elasticity of demand is expressed in terms of relaive not absolute changes in Price and Quantity demanded.
A. Increase
B. Decrease
C. Remain the same
D. Become zero
Ans. C. Robert Triffin
The concept of Cross Elasticity of Demand was initially propounded by H.L. Moore in his 1929 book Synthetic Economics, where he laid the early groundwork for measuring the responsiveness of demand for one good based on the price change of another. However, Robert Triffin is widely credited with providing the rigorous scientific explanation and formalization of the concept in his 1940 work, Monopolistic Competition and General Equilibrium Theory