Question9 l SPoints ) Peter's Ice Cream shops have enjoyed rapid growth in the South Western states over the last 'IO years. From the analysis of Peter's various outlets, it was found that the demand curve follows this pattern: Q = 200 300:0 +120l+ 65T 250Ac + 400A} Where Q = number of cups served per week P = average price paid for each cup 1': per capita income in the given market (fhousands) T: average outdoor temperature At: competition's monthly advertising expenditures (Thousands) A}: Peter's own monthly advertising expenditures (fhousands) One of the outlets has the following conditions: P = 2.50, i = 10, T: 60, Ac: 15, A],- = 'IO a) Estimate the number of cups served per week at Peter's outlet. (1 mark} b) What is the demand curve for Peter's outlet? (1 mark) c) What would be the effect of a $5,500 increase in competitor advertising expenditure? (3 marks) d. What would Peter's advertising expenditure have to be to counteract this effect? (3 marks} Use the editor to format your ans wer