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roadmanmba55Lv1
12 Oct 2022
- Question
a. Orient Ghana Ltd is one of the major manufacturers of local textiles in Ghana. Suppose the government of Ghana totally bans the importations of foreign textiles and extends the Friday wear policy to all working days. Also suppose that Orient Ghana Ltd discovers the state-of-the-art technology that eases the production of local textiles. With the aid of appropriate diagram(s), explain the effect of these events on the equilibrium price and quantity of Orient local textiles.
b. Considering a Computer and a Microsoft Surface Laptop, which of these two will have more own-price elastic demand? Explain your answer.
c. One of the biggest causes of juvenile delinquency is the high rate of unemployment among tertiary students. The low wages offered by employers has given fewer teenagers the incentive to find long vacation jobs. Instead of working throughout the long vac, today’s teenagers slack off and cause trouble. To address this problem, the government has proposed to increase the minimum wage by 20 cedis a day. This will give teens the proper incentive to find meaningful employment when they are not in school. Will this policy
yield the intended outcome?
- Question
a. Orient Ghana Ltd is one of the major manufacturers of local textiles in Ghana. Suppose the government of Ghana totally bans the importations of foreign textiles and extends the Friday wear policy to all working days. Also suppose that Orient Ghana Ltd discovers the state-of-the-art technology that eases the production of local textiles. With the aid of appropriate diagram(s), explain the effect of these events on the equilibrium price and quantity of Orient local textiles.
b. Considering a Computer and a Microsoft Surface Laptop, which of these two will have more own-price elastic demand? Explain your answer.
c. One of the biggest causes of juvenile delinquency is the high rate of unemployment among tertiary students. The low wages offered by employers has given fewer teenagers the incentive to find long vacation jobs. Instead of working throughout the long vac, today’s teenagers slack off and cause trouble. To address this problem, the government has proposed to increase the minimum wage by 20 cedis a day. This will give teens the proper incentive to find meaningful employment when they are not in school. Will this policy
yield the intended outcome?
hoanglethanh554Lv10
25 Nov 2023
annyong558Lv10
25 Nov 2023
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12 Oct 2022
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janmaymaymayLv1
12 Oct 2022
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