Question: Please help me to choose correct answer The table below presents different demand elasticities for selected beverages. market segment elasticities cross-price elasticity of demand between

Please help me to choose correct answer

Please help me to choose correct answer The table below presents different

The table below presents different demand elasticities for selected beverages. market segment elasticities cross-price elasticity of demand between beer and wine 0.51 cross-price elasticity of demand between beer and spirits 0.24 income elasticity of demand for beer -0.69 income elasticity of demand for wine 3.78 income elasticity of demand for spirits 1.81 What can be concluded from the above data? 1 Beer is a closer substitute for spirits than wine. 2 The consumption of beer is negatively related to the change in income. 3 Both wine and spirits are normal goods. O A. 1, 2 and 3 are correct O B. 1 and 2 only are correct O c. 2 and 3 only are correct O D. 1 only is correct

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