The demand curve for corn is downward sloping. If the price of corn, an inferior good, falls, then A) the income effect which causes you to increase your corn purchases is larger than the substitution effect which causes you to reduce your corn purchases, resulting in a net increase in quantity demanded. BY) both the income and substitution effects reinforce each other to increase the quantity demanded. C) the income and substitution effects offset each other but the price effect of an inferior good leads you to buy less corn. D) the income effect which causes you to reduce your corn purchases is smaller than the substitution effect which causes you to increase your corn purchases, resulting in a net increase in quantity demanded.

Acompany is developing a new high­performance wax for cross country ski racing. in order to justify the price marketingwants, the wax needs to be very fast. specifically, the mean time to finish their standard test course should be less thanseconds for a former olympic champion. to test it, the champion will ski the course 8 times. the champion's times(selected at random) are 59.9 61.9 48.8 52.2 46.6 45.3 50.6 and 41.1 seconds to complete the test course. complete parts a and b below.a) should they market the wax? assume the assumptions and conditions for appropriate hypothesis testing are metfor the sample.assume=0.05. what are the null and alternative hypotheses? choose the correct answer below.b) suppose they decide not to market the wax after the test, but it turns out that the wax really does lower the champion'saverage time to less thanseconds. what kind of error have they made? explain the impact to the company of such anerror.

Suppose someone wants to sell a piece of land for cash. the selling of a piece of land represents turning econ

When gathering information about certain occupations, be sure to understand how you are paid. what is the difference between a salary and an hourly wage?