State in your own words what each of the following phrases means a. The income elasticity of demand for supercars is +2. What does the number +2 tell you about automobiles? b. The cross elasticity of demand between supercars and fuel is -2. What does the number -2 tell you about supercars and fuel? In each of the following cases, state whether (1) There is a movement along the demand curve, (2) The demand curve will shift to the right, or (3) The demand curve will shift to the left: a. Apple Inc. funds a multimillion pound advertising campaign for their new iPhone, what happens to the demand for new iPhone? b. You think you are going to get a massive bonus this year, what happens to your demand for normal goods? c. Potato goes up in price by 150%, what happens to the demand for rice? Fish goes up in price by 200%, what happens to the demand for chips? e. People think that McDonalds is bad for them, what happens to the demand for McDonalds? f. What happens to the demand for cars if petrol is more expensive? g. The price of cars increases by 50%, what happens to the demand for cars? h. The price of cars increases by 50%, what happens to the demand for public transport? . The Thai average income increases by 10%, what happens to the demand for instant noodle? j. What happens to the demand for travellers' hotel when COVlD-19 is spreading? k. What happens to the demand for fine dining restaurant when COVlD-19 is spreading? What happens to the demand for food delivery when COVlD-19 is spreading