Assume the supply function for good X can be written as Qs = -100 + 27Px - 5Py - 1.8W where Px = the price of X, Py = the price of good Y, and W = Wage index for workers in industry X
This equation implies that X and Y are substitutes in production. Indicate whether the statement is true or false
TRUE
Economics
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Which of the following is NOT necessary for price discrimination to occur?
A) The firm must be able to separate the market into identifiable groups. B) The firm must be selling a durable good. C) The firm must have a downward sloping demand curve. D) The firm has to be able to prevent resale of the product or service.
Economics
Refer to the figure below. Player B can infer that Player A will: 
A. choose Down when B chooses Left and choose Up when B chooses Right. B. always choose Up. C. always choose Down. D. choose Up when B chooses Left and choose Down when B chooses Right.
Economics