As new firms enter a market, the equilibrium price will

The objections to the Walsh-Healy Act of 1936, which mandated "prevailing wages" in government employment,

(a) concerned the tendency of government wages to undercut those of the private sector. (b) came from the labor unions. (c) held that unemployment would be maintained artificially high. (d) held that payment of prevailing wages would reduce the national debt too slowly.

If a good has a price elasticity of demand coefficient greater than 1, total revenue can be increased by raising the price

a. True b. False Indicate whether the statement is true or false