Question
In: Economics
. Suppose each ice cream truck has a marginal cost of $1.50 per ice cream cone...
- . Suppose each ice cream truck has a marginal cost of $1.50 per ice cream cone sold and no fixed cost. Suppose the maximum number of ice cream cones sold by any one truck in a day is 100.
- If the price of an ice cream cone is $2, how many ice cream cones does each truck want to sell?
- If the industry is perfectly competitive will the price remain at $2 for an ice cream cone? If not, what will the price be?
- If each ice cream truck sells exactly 100 ice cream cones a day and the demand for ice cream cones from ice cream trucks in the city is Q = 4400 - 1200P, how many ice cream trucks are there?
Solutions
Rahul Sunny answered 6 months agoRelated Solutions
Suppose an ice cream cone has negligible thickness and the tip of the cone is identified...
Suppose an ice cream cone has negligible thickness and the tip
of the cone is identified with origin (0,0,0)and the circular
opening at the top is identified with the equation x^2+y^2=1, z=1.
if you fill the cone with ice cream "rounded" so that the surface
of the sections forms part of the surface x^2+y^2+z^2=2 and the ice
cream has variable density f= x^2+y^2+z^2, what is the mass of the
ice cream?
Kilo-cone is an ice-cream store that sells 1kg ice cream cones, and has the following information:...
Kilo-cone is an ice-cream store that sells 1kg ice cream cones,
and has the following information:
Estimated monthly Sales (in cones)
January to March: 45,000 per
month
April to September: 70,000 per month
October to December: 20,000 per month
Ice cream cones sell for $1 each from January 1st to
March 31st, and $3 each during the rest of the year.
Half of the sales are paid in cash, and the other half is on
account. 90% of the sales...
The daily demand for ice cream cones at a price of $1.20 per cone is 50...
The daily demand for ice cream cones at a price of $1.20 per
cone is 50 cones. At a price of $2.20 per cone, the demand is 30
cones. Use linear interpolation to estimate the demand at a price
of $1.50 per cone.
The UDairy ice cream truck plans to sell ice cream at an upcoming alumni event in...
The UDairy ice cream truck plans to sell ice cream at an
upcoming alumni event in Central Park (NYC). From past events,
demand for ice cream is highly weather dependent. On rainy days,
demand is normally distributed with a mean of 120 scoops and
standard deviation of 35 scoops. On non-rainy days, demand is
normally distributed with a mean of 200 scoops and standard
deviation of 60 scoops. The ice cream truck will be loaded two days
before the event...
Geometric Nets Suppose you could split open and flatten an ice cream cone. Before doing so,...
Geometric Nets
Suppose you could split open and flatten an ice cream cone.
Before doing so, you measure the circumference around the top of
the cone and find it is 9.4 inches.
What is the radius of the opening of the cone approximated to
the nearest tenth of an inch?Explain your answer.
Draw a picture of the flattened cone.
Explain how the circumference of the cone translates to the
shape of your drawing.
Before purchasing the new ice cream truck, Cowboy Ice Cream, Inc. (CIC) considered eliminating the Retail...
Before purchasing the new ice cream truck, Cowboy Ice Cream,
Inc. (CIC) considered eliminating the Retail Division. This was
mainly prompted by Frank’s (W.T. fellow shareholder) concern that
the income statements for the divisions for May-September 2017
(when the Retail Division is at full operation) imply that
profitability could be improved if the Retail Division were
eliminated.
Division
Retail
Wholesale
Sales
$60,000
$160,000
Cost of goods sold
(18,000)
(90,000)
Variable operating expenses required to operate each
division
(31,500)
(15,050)
Contribution...
An ice cream store sells a pint of ice cream for $4.00 each. The shop incurs a monthly fixed cost of $2,000
An ice cream store sells a pint of ice cream for $4.00 each. The shop incurs a monthly fixed cost of $2,000 which includes salaries and rental. The variable cost per pint of ice cream is $1.50. The company is currently selling 600 pints per month.A. How many pints per month does the store need to sell to break-even?B. Using Goal Seek what is the new selling price per pint to achieve a profit of $10,000, if the company continues...
Consider the market for ice cream. Suppose that this market is perfectly competitive. The cost structure...
Consider the market for ice cream. Suppose that this market is
perfectly competitive. The cost structure of the typical ice cream
producer is as follows. Average total cost is equal to
???(?)=50?+12?, average variable cost is equal to ???(?)=12?, and
marginal cost is equal to ??(?)=?.
a.) Give a formula for the typical ice cream producer’s average
fixed cost ???(?). What is the typical ice cream producer’s total
fixed cost?
b.) How many ice cream cones will each producer sell...
Izzy Ice Cream has the following price and cost information: Price per 2-scoop sundae $ 5.00...
Izzy Ice Cream has the following price and cost information:
Price per 2-scoop sundae
$
5.00
Variable cost per sundae:
Ingredients
1.35
Direct labor
0.45
Overhead
0.20
Fixed cost per month
$
8,100
Required:
1. Determine Izzy’s break-even point in units
and sales dollars.
2. Determine how many sundaes must be sold to
generate a profit of $16,200.
3. Calculate Izzy’s new break-even point for
each of the following independent scenarios:
a. Sales price decreases by $0.50.
b. Fixed costs...
Izzy Ice Cream has the following price and cost information: Price per 2-scoop sundae $ 5.00...
Izzy Ice Cream has the following price and cost information:
Price per 2-scoop sundae
$
5.00
Variable cost per sundae:
Ingredients
1.35
Direct labor
0.45
Overhead
0.20
Fixed cost per month
$
8,100
Required:
1. Determine Izzy’s break-even point in units
and sales dollars.
2. Determine how many sundaes must be sold to
generate a profit of $16,200.
3. Calculate Izzy’s new break-even point for
each of the following independent scenarios:
a. Sales price decreases by $0.50.
b. Fixed costs...
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