If You Were Building a Hypothesis Test to Determine Whether

question 5

Multiple Choice

If you were building a hypothesis test to determine whether or not the price elasticity of demand for your product is -3.0, which of the following would be a natural null hypothesis?

• A) H₀: Price Elasticity of Demand = 0
• B) H₀: Price Elasticity of Demand = 1
• C) H₀: Price Elasticity of Demand = -3.0
• D) H₀: Price Elasticity of Demand = -1

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