3 WACM Weak Axiom of Cost Minimization ( WACm) if xs, xt are in Y, and choice by firm under price ws and wt. thenw'x<w'x. we can get △w△x<0 lecture 3 for Chu Kechen Honors Collegelecture3 for Chu Kechen Honors College 3.WACM ▪ Weak Axiom of Cost Minimization (WACM): if x s , x t are in Y, and choice by firm under price ws and wt . then . we can get:  t t t s w x w x    w x 0