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So far, weve been focused on the elasticity of demand for only one good. Weve thought about how changes in the price of that good affect changes in its quantity. Now what were going to explore is how we can go across goods. So were going to talk about the cross elasticity of demand. And theres multiple different scenarios we could think about, but its really thinking about how a price change in one good might affect the quantity demanded in another good. And to see an example of this, think about two airlines-- two competing airlines-- maybe its the same exact route going at the exact same time, maybe between New York and London. So airline one, right over here-- airline two, very competitive, price right over here is $1,000 for a round trip. Quantity demanded is 200 tickets, lets say, in a given week. Airline two, price is $1,000 for the round trip, and the quantity demanded is 200 tickets as well. Now lets think about what will happen. What will happen if airline one raises
