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Describe the evolution of minimum wage in Canada. Describe the characteristics of people who work for minimum wage.
Monopolistically Competitive
A market structure characterized by many firms selling similar but not identical products, allowing for some degree of market power.
Diseconomies of Scale
A situation where, as a company or production process increases in size, the cost per unit increases, usually due to inefficiencies.
Advertising Costs
Advertising costs are expenses incurred to promote products, services, or brands through various media channels.
Technological Advance
The development and application of innovative technologies that improve efficiency, productivity, and capabilities within various industries or sectors.
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