Dana owns an ice cream stand that she operates during the summer months in City Center Mall. She is unsure how to price her ice cream cones and has experimented with two prices in successive weeks during the busy July season. The number of people who entered the store was roughly the same each week. During the first week, she priced the cones at $6.50 and 2,400 cones were sold. During the second week, she increased the selling price by 12%, which led to a decrease of 16 % in the cones sold. The variable cost of a cone is $1.30 and consists solely of the costs of the ice cream and the cone itself. The fixed expenses of the ice cream stand are $1,800 per week. Required: 1. What profit did Dana earn during the first week when her price was $6.50? 2. What was the selling price in the second week and how many cones were sold in the second week with the price reduction? 3. What profit did Dana earn during the second week? 4. Based on requirements (a) and (c) was it better to increase the selling price in the second week? Explain why