Business, 27.05.2020 12:57 heavenwagner
You are the Economic Consultant for Zuku Farms Ghana Limited. Zuku produces cowpea in a community
where producers are able to switch back and forth between cowpea and groundnut depending on market
conditions. Consequently, you were tasked by the management of Zuku and you estimated the demand
function for cowpea as follows:
where is the quantity of cowpea demanded in bags per month, is the average price of cowpea in Ghana
Cedis, is the average price of groundnut in Ghana Cedis, and Y is the income of consumers.
a. Assuming is initially GH¢31.00 per bag, Y is GH¢1001.50
i. Find the resulting demand function for cowpea and determine the number of bags Zuku can sell at
GH¢ 45.00 per bag. 4 marks
ii. Management is considering increasing price of cowpea by GH¢10.00 per bag. Advise management
on this price change using the concept of price elasticity of demand. 2 marks
iii. Explain why management should be worried about a reduction in the price of groundnut.
2 marks
Assume also that your estimated supply function for cowpea as follows:
Where is the quantity supplied of cowpea in bags, and are as defined above, is the price of
fertilizer per bag, is the amount of rainfall (in inches).
If inches and = GH¢31.00.
b. Find the resulting supply function for cowpea and determine the equilibrium price and quantity.
4 marks
c. Assuming the government imposes a tax of GH¢10 on every bag of cowpea sold, determine the new
equilibrium price and quantity. Explain the effect of the policy on the market.
6 marks
d. Sketch the demand curve and the supply curves for cowpea.
Answers: 2
Business, 22.06.2019 02:00
Ineed : ): will mark brainliest! describe sinek's golden circle. what does he use this for? sinek argues that "people don't buy 'what' you do; people buy 'why' you do it." what does he mean by this? do you agree or disagree with him? why? what are the advantages of hiring people who share the same beliefs and visions in terms of the company's 'why' or purpose? why wasn't tivo successful as a company? what is the difference between leaders and those who lead? how does safety contribute to trust and cooperation? what are some ways that leaders can make the company environment safe? what are the advantages of companies where employees feel safe and protected?
Answers: 2
Business, 22.06.2019 08:30
Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year). may 1 prepared a company check for $350 to establish the petty cash fund. 15 prepared a company check to replenish the fund for the following expenditures made since may 1. a. paid $109.20 for janitorial services. b. paid $89.15 for miscellaneous expenses. c. paid postage expenses of $60.90. d. paid $80.01 to the county gazette (the local newspaper) for an advertisement. e. counted $26.84 remaining in the petty cashbox. 16 prepared a company check for $200 to increase the fund to $550. 31 the petty cashier reports that $380.27 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15. f. paid postage expenses of $59.10. g. reimbursed the office manager for business mileage, $47.05. h. paid $48.58 to deliver merchandise to a customer, terms fob destination. 31 the company decides that the may 16 increase in the fund was too large. it reduces the fund by $50, leaving a total of $500.
Answers: 1
Business, 22.06.2019 09:00
Your grandmother told you a dollar doesn't go as far as it used to. she says the purchasing power of a dollar is much lesser than it used to be. explain what she means. try and use and explain terms like inflation and deflation in your answer.
Answers: 1
Business, 22.06.2019 11:30
Amano s preguntes cationing to come fonds and consumer good 8. why did the u.s. government use rationing for some foods and consumer goods during world war ii?
Answers: 1
You are the Economic Consultant for Zuku Farms Ghana Limited. Zuku produces cowpea in a community
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