Which of the following statements is false? a. Average-cost pricing usually refers to setting a price for a natural monopoly firm that is equal to its ATC, thus guaranteeing the firm a normal profit. b. The public choice theory of regulation holds that regulators are seeking to do, and will do through regulation, what is in the best interest of the society at large. c. One of the unintended effects of profit regulation (in the form of guaranteeing the natural monopoly firm that it will always earn normal profit-nothing more and nothing less) is that the natural monopoly has no incentive to keep its costs down. d. An economist thinks that there are both benefits and costs to most (if not all) types of regulation.

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