An organic grocery chain has estimated the income elasticity of demand (YEDYEDYED) for several of its specialty product categories, as shown in the table below:
| Product Category | Income elasticity of demand (YEDYEDYED) |
|---|---|
| Artisanal Cheese | 1.25 |
| Organic Honey | 0.75 |
| Free-Range Eggs | 0.60 |
| Whole Milk | 0.35 |
If average household incomes increase by 8%, for which of these product categories will the quantity demanded increase by more than 5%?
Artisanal Cheese only
Artisanal Cheese and Organic Honey
Artisanal Cheese, Organic Honey, and Free-Range Eggs
Organic Honey and Free-Range Eggs
