Daniel had been earning $72 per hour and working 45 hours per week. then daniel's wage changes to $64 per hour, and as a result, he now works 40 hours per week.
what can we conclude from this information about the income effect and the substitution effect of a wage change for daniel?

the substitution effect causes daniel to devote (1) time to working, the income effect causes daniel to devote ( time to working, and the substitution effect is ( the income effect.

1.) the substitution effect causes daniel to devote time to

a. the same amount of time
b. more
c. less

2.) income effect causes daniel to devote time to

a. more
b. the same amount of
c. less

3.) substitution effect is ( the income effect.

a. smaller than
b. larger than
c. the same size as

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