CROSS ELASTICITY OF DEMAND: The relative response of a change in demand to a relative change in the price of another good. More specifically the cross elasticity of demand can be defined as the percentage change in demand for one good due to a percentage change in the price of another good. The cross elasticity of demand quantitatively identifies the theoretical relationship between other prices and demand discussed by the other prices. This elasticity should be compared with price elasticity of demand and income elasticity of demand. You might want to check out elasticity for a little background.

     See also | elasticity | price elasticity of demand | substitute | complement | other prices | income elasticity of demand |

CROSS ELASTICITY OF DEMAND, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: August 17, 2019].

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In general, cost that does not change with changes in the quantity of output produced. More specifically, fixed cost is combined with the adjectives "total" and "average" to indicate the overall level of fixed cost or the per unit fixed cost. Fixed cost is incurred whether of not any output is produced. The contrast to fixed cost is variable cost, cost which does change with the quantity produced.

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