a. Are raw almonds fixed cost or variable cost? How about processing and packaging? Maintenance? Overhead? Explain. b. Draw a typical firm's MC and ATC curves, and the market SRS (short-run supply) curves. c. The elasticity of demand for almond milk is-2/3 and the current market price is $7 and the market is at capacity. Derive a linear demand curve for almond milk (quantity and price).

Back to Assignment Keep the Highest 1/2 4. Elastic, inelastic, and unit-elastic demand The following graph shows the demand for a good. Attempts 1 ❖ PRICE (Dollars per unit) 350 225 175 50 0 Region Between W and X Between X and Y Between Y and Z 1 QUANTITY (Units) True False W Demand For each of the regions listed in the following table, use the midpoint method to identify if the demand for this good is elastic, (approximately) unit elastic, or inelastic. Elastic Inelastic Unit Elastic ? True or False: The slope of the demand curve is not equal to the value of the price elasticity of demand.

A farmer produced 8400 tons of grapes and each ton sales for $200. Grapes are found to be a perfect cure for Corona Virus. As a result, the price of grapes went from $200 per ton to $10,000 per ton. How many tons will the farmer sale? Using your knowledge of price elasticity of supply, draw a graph illustrating this sale. What will happen in the market for grapes in one year if the price hold steady at $10, 000. Draw a graph showing this.

Explain how each of the factors would or would not affect the price elasticity of demand for a good or service that your company (or a company for which you have an interest) produces?Help your classmates expand or re-focus on what they have observed.

demand is (are) created by customers and include(s) the demand for finished products and replacement parts? Dependent Independent Both dependent and independent Neither dependent nor independent

If Starbucks’s data analytics department estimates the income elasticity of demand for its coffee to be 2.5, how will the prospect of an economic boom (expected to increase consumers’ incomes by 5 percent over the next year) impact the quantity of coffee Starbucks expects to sell?Instruction: Enter your response rounded to two decimal places. It will change by _____ percent.

_6. A product's price changes from $2 to $6 and its quantity demanded changes from 10 to 4 units. This is an example of price: A) B) C) D) inelastic demand. elastic demand. unitarily elastic demand. inelastic supply. Show your work here Formula Calculation Answer

Blue Co. makes a processor that requires a metal that can only be found in a single mine in Peru. Do you expect the price elasticity of supply for this processor to be elastic or inelastic? Explain in 1-4 sentences.

a. Define income elasticity of demand and cross-price elasticity of demand.     b. If a firm determines that the income elasticity of demand for its good is negative (EY < 0), what can be said about this good?     c. On the island of Econopia, the cross-price elasticity of demand between holilacs and bajwins is negative (EXY <0). What is the relationship between these goods?

Price of tin and silicone decrease affecting the market for iPhones A)Decrease in supply B)Decrease in demand C)Increase in supply D)Increase in demand