Assume the Supply Function for Good X Can Be Written

question 90

True/False

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.

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Definitions:

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