The following table shows the elasticities for beer, wine and spirits:

Price elasticity of demand for beer 0.23

Cross price elasticity of demand between beer and wine 0.31

Cross price elasticity of 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 market3ed 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%