The ice cream shop Icy has just completed a market survey examining expected

demand at various price levels for one of their products – Icy Cool. The data are

summarized in the table below:

You also know that the variable unit costs associated with producing this ice cream
type amount to $0.25 and that the fixed costs are $100. Your job is to calculate the
total profit for each price/ demand combination and give your advice to the manager
of Icy about what price to set for this product.

Transcribed Image Text:

A B C 1 RESULT OF MARKET SURVEY 2 3 FOR ICY COOL 4 Price ($) Demand Profit 569 0.5 500 1 300 7 1.5 100 8 2 50 9 2.5 20