Answer:When Economists estimated that the cross-price elasticity of demand for beer and wine is -0.83 and the income elasticity of wine is 5.03 they meant that because beer and wine are substitutes and wine is a luxury good.
The cross elasticity of demand, also known as the cross-price elasticity of demand, in economics quantifies the relationship between the percentage change in the quantity of a commodity sought and the percentage change in the price of another good, ceteris paribus. The quantity of an item is actually reliant on both the price of "related" products as well as the good's own price (price elasticity of demand). A positive cross elasticity indicates that two items are substitutes, whereas a negative cross elasticity indicates that two products are complements.
Step-by-step explanation: