Reporters learned a valuable lesson in economics when they asked Nintendo president Satoru Iwata if there would soon be a price cut for the $250 Wii, to match recent cuts for the competing PS3 and Xbox 360. The answer? Hells no!

"We're still focusing on how to meet booming demand," Iwata said Friday. "We're absolutely not considering a price cut."

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Any reporter still out of the loop on that should call their high-school econ teacher. [AP]