In 2017, three shops were selling ice cream cones for a price of $4 each in a small tourist town in Florida. Each shop sold 100 ice cream cones; thus, all shops together sold a total of 300 ice cream cones. In 2018, five shops were selling ice cream cones for a price of $3 each. Each shop sold 70 ice cream cones; thus, all shops together sold a total of 350 ice cream cones. For the sake of simplicity, assume marginal cost is $0 for all firms and thus total revenue is equal to total profit. Which effect best describes the likely decrease in profits experienced by each of the three original firms due only to the lower market price

Sales at a fast-food restaurant average $6,000 per day. the restaurant decided to introduce an advertising campaign to increase daily sales. to determine the effectiveness of the advertising campaign, a sample of 49 days of sales were taken. they found that the average daily sales were $6,300 per day. from past history, the restaurant knew that its population standard deviation is about $1,000. if the level of significance is 0.01, have sales increased as a result of the advertising campaign? multiple choicea)fail to reject the null hypothesis.b)reject the null hypothesis and conclude the mean is higher than $6,000 per day.c)reject the null hypothesis and conclude the mean is lower than $6,000 per day.d)reject the null hypothesis and conclude that the mean is equal to $6,000 per day.expert answer