a representative firm with short-run total cost given by tc = 10 - 2 q - q 2 operates in a competitive industry where the short-run market demand and supply curves are given by qd = 1,000 – 40 p and qs = –500 + 10 p. its short-run profit-maximizing level of output is:

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.

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Darlene has a balance of 3980 on a credit card with an apr of 22.8% paying off her balance and which of these lengths of time will result in her paying the least amount of interest?