Answer:
A monopolist does not have a supply curve because price and quantity are decided at the same time.
Explanation:
A supply curve is generally upward sloping showing a direct relationship between the price level and quantity supplied. In case of a perfectly competitive market, the demand curve is a horizontal curve, showing marginal; revenue and average revenue. The firm here is a price taker and decides the quantity to be supplied according to the price level. The firm is able to maximize profit at the level of output where the price is equal to marginal cost.
However, in case of a monopoly, the firm is a price maker. There is no unique relation between price and quantity. The price and quantity to be supplied are determined at the same time at the point where marginal revenue is equal to marginal cost.
Answer:
Neoclassic economists believe that both wages and prices are sticky (hard to change) only int he short run. In the long run, both prices and wages will adjust to new economic conditions.
In this particular case, neoclassic economists will predict that even though wages are starting to rise, in the long run the equilibrium wage will be higher.
Long run and short run are economic concepts that do not refer to a given time period, e.g. long term in accounting means more than 1 year, but long run in economics may take years to come.
Long run refers to the amount of time it takes for an economic variable to adjust to economic changes.
If Canada's increase in labor costs is paired with an increase in productivity (usually new technologies), then the economy should be able to grow since private consumption and investment will increase due to higher wages.
Explanation:
Answer:
$28,000
Explanation:
The net income for Cougar corporation is $35,000
The dividend is $7,000
Therefore the retained savings can be calculated as follows
= $35,000-$7,000
= $28,000
Hence the retained earnings at the end of the year is $28,000
The statement, "As marketers embraced the concept of integrated marketing communications, they began asking their ad agencies to rely primarily on media advertising," is:
<h3>What was the stance of the marketers?</h3>
When marketers started accepting integrated marketing communications, they did not tell their ad agencies to rely only on media advertising. They rather told them to adequately manage the promotional materials that they had.
Instead of focusing on just one type of promotional tool, they encouraged diversification. So, it is wrong to say that they asked their agencies to focus only on media advertising.
Learn more about marketing communications here:
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Their income increases, being that the relationship between education and income is positive