1. Auntie Maame Freda runs a big provision shop at Ofanko. Recently, she has noticed a shortage in her products at the end of every month. She is suspecting that there might be a theft situation happening in the area hence she has decided to hire guards for her shop. Suppose each guard is paid GHC400 a month and the cost incurred for a stolen bundle of provision is GHC50, as a student of managerial economics, help Auntie Maame Freda solve the following questions. Employment of guards Amount of bundles of provision stolen per month 0 100 1 60 2 40 3 28 4 16 II 5 12 a. Construct a total benefit, total cost, marginal benefit and marginal cost table for the shop. b. How many guards should the shop hire? 2. a. Use the three determinants of demand to explain why you think demand for Axe Body spray deodorantis elastic or inelastic over a 3-year period. b. Use the three determinants of demand to explain why you think demand for (cow's) milk is elastic or inelastic over a 1-month period c. Identify three products that you expect to be normal goods and describe why they are likely to be normal goods. d. Identify one product that you expect to be an inferior good and describe why that good is likely to be an inferior good. e. Identify two sets of substitute products. Give an example cross-price elasticity of demand for each set. f. Identify two sets of complementary products. Give an example cross-price elasticity of demand for each set. NOTE: ALL PRODUCTS SHOULD BE IN THE CONTEXT OF GHANA