Assume that the income elasticity of demand for coffee is -2.5 and consumers' incomes increase by 10%. Which of the following statements isfare correct? (i) There will be a 25% decrease in the quantity of coffee bought (ii) Coffee is treated by consumers as a normal good (iii) Coffee is treated by consumers as an inferior good (iv) There will be a 4% decrease in the quantity of coffee bought {3 A. only {i} and {iii} are correct {:1 s. only {ii} is correct {3. c. oniy {iii} and {TV} are correct {3. o. only ti} and {ii} are correct 0 E. only.r [ii] and {iv} are correct