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).

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).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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