>A cross-price elasticity of demand refers to the percentage change in the quantity demanded of one good resulting from a 1-percent increase in the price of another. EQaPb=(%△Qa)/(%△P)=(△Qa/Qa)/(△P/Pb) >The price elasticity of supply is the percentage change in the quantity supplied resulting from a 1-percent increase in price. EpS=(%△Qs)/(%△P)=(△Qs/Qs)/(△PP)➢ A cross-price elasticity of demand refers to the percentage change in the quantity demanded of one good resulting from a 1-percent increase in the price of another. EQaPb = (%△Qa )/(%△Pb ) = (△ Qa /Qa )/(△ Pb /Pb ) ➢ The price elasticity of supply is the percentage change in the quantity supplied resulting from a 1-percent increase in price. EP S = (%△QS )/(%△P) = (△QS /QS )/(△P/P)