Assume the demand function for good X can be written as Qd = 80 - 3Px - 2Py + 10I where Px = the price of X, Py = the price of good Y, and I = Consumer income. This equation implies that X and Y are complements

According to the process of creative destruction, at first the entrepreneur will be able to sell her product for

a. a low price because it is not well known. b. a high price because there is no competition. c. a fair price because these are contestable markets. d. at a price of zero until the market is created.

Economists devise theories, collect data, and then analyze these data in an attempt to verify or refute their theories

a. True b. False Indicate whether the statement is true or false