The data below gives estimates of elasticity of demand for selected foods in a country.

YED PED

All food 0.10 Beef -1.24

Beef 0.26 Bread -0.25

Margarine -0.22 Fresh potatoes -0.14

Fresh potatoes -0.43 Fruit juice -0.65

Fruit juice 0.95 Margarine -0.3

Bread -0.18

Cross elasticity of demand for beef and pork

beef with respect to the price of pork 0.10

pork with respect to the price of beef 0.25

(a) with reference to the data' explain why

1. all the price elasticities of demand are negative
2. some income elasticities of demand are positive and some are negative
3. beef has a high PED but a relatively low YED

(b) Comment on the values shown in the table for the cross eleasticity of demand for beef and pork