Conscious thought and effort or intuitive answer

Massachusetts Institute of Technology (MIT) professor Shane Frederick in his paper titled “Cognitive Reflection and Decision Making” (2005) introduced the Cognitive Reflection Test (CRT) which measures one type of cognitive ability—the ability or disposition to reflect on a question and resist reporting the first response that comes to mind.
Frederick’s test highlights how cognitive biases can lead to errors in judgment, emphasizing the importance of reflective thinking over impulsive responses.

This test is widely recognized as the shortest IQ test, consisting of just three questions.
Despite its simplicity, the CRT has proven to be quite challenging; studies show that only about 17% of participants can answer all three questions correctly.
Frederick, Shane (2005) “Cognitive Reflection and Decision Making.” Journal of Economic Perspectives, 19 (4): 25–42.

The test consists of only 3 questions, which must be answered as quickly as possible.
The Questions
1. A bat and a ball cost $1.10 in total. The bat costs $1.00 more than the ball. How much does the ball cost?
2. If it takes five machines five minutes to make five widgets, how long would it take 100 machines to make 100 widgets?
3. In a lake, there is a patch of lily pads. Every day, the patch doubles in size. If it takes 48 days for the patch to cover the entire lake, how long would it take for the patch to cover half of the lake?

For these questions, most people instinctively guess a)10 cents; b) 100 minutes; c) 24 days.
Prof Frederick noted that these intuitive and “impulsive” answers are wrong.

What are the real answers?