Assume the Supply Function for Good X Can Be Written

question 74

Multiple Choice

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. According to this equation:

• A) X and Y are substitutes.
• B) X and Y are complements.
• C) a decrease in wages would cause a decrease in the quantity supplied at each price.
• D) each one unit increase in price causes quantity supplied to increase by 73 units.

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