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Exercise 14.23 Flounder Split sells Ice cream cones in a variety of flavours. The following...

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Accounting

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Exercise 14.23 Flounder Split sells Ice cream cones in a variety of flavours. The following are data for a recent week: Revenue (1,000 cones at $1.82 each)$1,820 Cost of ingredients Rent Store attendant $710 520 550 1.780 $40 Pretax income The manager estimates that if she were to increase the price of cones from $1.82 to $1.99 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 places eg. 15.25. Round percentage change to 2 decimal places, eg. 25.25% and elasticity to 3 decimal places, eg. 1.525 for your calculations.) Price per cone

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