Question: Exercise 14.23 Indigo Split sells ice cream cones in a variety of flavour. The following are data for a recent week: Revenue (1,000 cones at

Exercise 14.23 Indigo Split sells ice cream cones in a variety

Exercise 14.23 Indigo Split sells ice cream cones in a variety of flavour. The following are data for a recent week: Revenue (1,000 cones at $1.79 each) Cost of ingredients Rent Store attendant $1.790 $670 540 540 1,750 $40 Pretax income The manager estimates that if she were to increase the price of cones from $1.79 to $1.97 each, weekly volume would be cut to 850 cones due to competition from other nearby ice cream shops Estimate the profit-maximizing price per cone. (Round entry to 2 decimal placesg. 15.25. Round percentage change to 2 decinal places, e 9-25.25% and elasticity to 3decimal places, e 9-1525 for your calculations. Price per cone

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