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Since the Demand of Elasticity is less than 1, the percentage change in quantity demanded is less than the percentage change in price. As such, as the price of newspaper decreased, total revenue decreased. Price elasticity of demand for beer 0.23 Cross price elasticity demand between beer and wine 0.31 Cross price elasticity demand between beer and spirits 0.15 Income elasticity of demand for beer -0.09 Income elasticity of demand for wine 5.03 Income elasticity of demand for spirits 1.21 a) What do these figures tell us about the relationship between these three goods? b) Which products are more likely to be marketed towards students? Which products are more likely to be marketed towards middle-aged people? c) What happens in the market for these beverages if income suddenly increases by 10%