Some large retailers, such as Amazon, can charge lower prices because they can use their massive size to keep their average costs low. This is an example of A. Economies of scale B. The underground economy. C. Fiscal Policy D. The division of labor
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- What is ‘Toyota is contemplating increasing the production of SUVs based on projected future consumer demand’ classify as? a. Micro, examining one individual b. Micro, examining one specific firm c. Micro, examining one sectorwhat is micro?Explain how microeconomics differs from macroeconomics. Which of the following headlines, taken from the various issues of The Daily Graphic, deal with 5A. microeconomics: a. “Nestle Ghana posted a 18% increase in sales" b. “GRIDCO plans to slash more jobs" "Ghana's Output Grew by 5.8%" с. d. "Housing starts soared 10% in September" e. "Ghana to Breach key Deficit Target it helped to create" Explain each issue why it is a microeconomic issue Justina owns the Just's Sobolo Store. She charges sobolo. You, the economist calculated the elasticity of demand for sobolo in her be 2.5. If she wants to increase her total revenue, Be able to explain 5.B GHS10 per bottle for her handmade town to what advice will you give her and why? your answer.
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- SUBMIT HARDCOPIES PROF DB SARP 1. The table below shows information on the demand and supply for Chicken, where the quantities of Chicken are measured in thousands. os Price GHS 120 GHS 150 Qd so 36 40 50 48 56 70 Table 1. Demand and Supply for Chicken GHS 180 GHS 210 GHS 240 40 32 28 24 a. What is the quantity demanded and the quantity supplied of Chicken at a price of GHS 210? b. At what price is the quantity supplied equal to 48,000 Chickens? c. Graph the demand and supply curve for Chickens. Determine the equilibrium price and quantity from the graph? d. If the price was GHS 120, what would the quantities demanded and supplied be? Would a shortage or surplus exist? If so, how large would the shortage or surplus be? 2. An exclusive Yoghurt manufacturer sells 4,000 gallons per month at a price of GHS 40 each. When the price is reduced to GHS 30 sales increase to 6,000 gallons per month. a. Calculate the price elasticity of demand for the Yoghurts over this price range. b. Is demand…Define factors of production and describehow they contribute to output.The likeliest reason why a large business may be able to achieve economies of scale is due to A. International trade B. Fewer scarce resources. C. The division of labor. D. Less specialization.