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  3. . suppose each ice cream truck has a marginal cost

. Suppose each ice cream truck has a marginal cost of $1.50 per ice cream cone...

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Economics

  1. . Suppose each ice cream truck has a marginal cost of $1.50 perice cream cone sold and no fixed cost. Suppose the maximum numberof ice cream cones sold by any one truck in a day is 100.
  1. If the price of an ice cream cone is $2, how many ice creamcones does each truck want to sell?
  2. If the industry is perfectly competitive will the price remainat $2 for an ice cream cone? If not, what will the price be?
  3. If each ice cream truck sells exactly 100 ice cream cones a dayand the demand for ice cream cones from ice cream trucks in thecity is Q = 4400 - 1200P, how many ice cream trucks are there?

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