Qd=1000-9.5pc+16.2pg+0.2mQUESTION 3 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 o

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bacteria that live on the ocean floor are sustained by phytoplankton. phytoplankton, microscopic marine photosynthetic organisms, have a vastly significant role to play not only in the marine food web of which they’re part of, but also on a more global scale. despite their infinitely small size in comparison to other marine organisms, these tiny creatures occupy an immensely important ecological niche: they are the foundation of the marine food web, and as primary producers, play key roles in supporting all other organisms in the marine environment, as well as in the regulation of the earth’s climate through the sequestration of carbon, oxygen production, and other related processes. phytoplankton account for roughly half of all global primary productivity; therefore, their significance extends far beyond the marine environment alone. there is an intriguing sense of irony in the realization that these tiny living beings that often live out their existence unnoticed and undetected by the rest of the world, have such a far-reaching impact on the lives of virtually all other living organisms on the planet, particularly on those in the marine environment. the world that we have become accustomed to has been and is continuously shaped by the workings of these miniscule yet vital “plants of the sea”.

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