It is known that the mean price of a college textbook was $85 in 2014 with the standard deviation of $16. Consider a random sample of 40 college textbooks marketed in 2014, and let X represent the mean of the sample. 17 Find the mean and standard deviation of X, i. e., X , X (Round off to two decimal places.) (a) 85, .4 (b) 13.44, 16 (c) 85, 2.53 (d) 85, 16 (e) 101, 2.53

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.