Which of the Following Is the Best Description of What

question 33

Multiple Choice

Which of the following is the best description of what a "two-sided" test means?

• A) Either the null or alternative hypothesis may be false.
• B) Either the null or alternative hypothesis may be true.
• C) The alternative hypothesis includes parameter values of both sides of the null hypothesis parameter value.
• D) The alternative hypothesis includes statistical values of both sides of the null hypothesis statistic value

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Definitions:

Long-Run Equilibrium

A state in which all factors of production and markets adjust fully to any changes, resulting in a stable economic environment without excess supply or demand.

Long-Run Equilibrium

A state in which all inputs and outputs in a market are fully adjusted and there is no tendency for change, often associated with perfect competition markets.

Marginal Revenue

The extra revenue obtained by selling an additional unit of a product or service.