In a market economy, if the price of a good increases, the quantity demanded by consumers and the quantity supplied by producers will change in which of the following ways? a. quantity demanded by consumers will increase, quantity supplied by producers will increase b. quantity demanded by consumers will increase, quantity supplied by producers will decrease c. quantity demanded by consumers will decrease, quantity supplied by producers will increase d. quantity demanded by consumers will decrease, quantity supplied by producers will decrease

An automobile assembly line operation has a scheduled mean completion time, μ, of 12 minutes. the standard deviation of completion times is 1.6 minutes. it is claimed that, under new management, the mean completion time has decreased. to test this claim, a random sample of 33 completion times under new management was taken. the sample had a mean of 11.2 minutes. assume that the population is normally distributed. can we support, at the 0.05 level of significance, the claim that the mean completion time has decreased under new management? assume that the standard deviation of completion times has not changed.