Price of Bottle of Wine $38 $36 $34 $32 $30 $28 Bottles of Wine Consumed 125 135 Month/Date January 2008 January 2009 January 2010 January 2011 January 2012 January 2013 Bottles of Wine Produced 245 225 205 185 165 145 145 155 165 175 Based on the data above, calculate the price elasticity of demand coefficient of wine between January 2012 and January 2013 From the answer choices below, SELECT TWO answers. 1. Select one number corresponding with the calculated coefficient value. 2. Select one word to describe the demand for wine within the analyzed time frame. Elastic Normal Inelastic 1.42 0.97 1.10 Interior Complement 0.85 Substitute 1.25