What are the various kinds of demand elasticity?

Price elasticity of demand and cross price elasticity of demand!?

• I'm having trouble with this question, could you guys pls show me how to do it? Thanks. Differentiate between price elasticity of demand and cross price elasticity of demand. Rank the following in order of increasing cross-price elasticity (negative to positive) with coffee. Explain your reasoning. a) bleach b) tea c) creamer d) Pepsi

• Answer:

  hmmmmmm....interesting question...... okay....so you have a complementary good (cream), a substitute (tea), a near-substitute in the sense that it is a drink - Pepsi, and bleach....... elasticity is the measure of consumers response to a change in the price of a good......cross elasticity measures what happens to the demand of a separate product when the price of a good changes....... u can bet that a change in the price of coffee would affect the quantity demand or demand for cream.........the demand for tea - it's substitute.......the demand for Pepsi to a lesser degree - a drink, though not a hot drink.......and have no effect on bleach.......... negative to positive ranking? bleach?........no effect Pepsi.........some effect since it's in the drink/beverage category tea.....this is a close substitute cream.....goes with coffee and is a complementary good...... I hope I'm right