Definitions for "Cross elasticity of demand"
The percentage change in the quantity demanded of good X resulting from a 1 percent change in the price of some other good Y
A measure of the extent to which the demand for a good changes when the price of a substitute or complement changes, other things remaining the same. (p. 125)
The percentage change in the quantity demanded of a product divided by the percentage change in the price of a substitute or complement good.