Y5

Description Cousin's Eddie and Edith own and run the only ice cream parlour in Jonesville. South Dakota. They have different strategies for how to run the business. Edith wants to make the largest possible prot. charging $4.50 per scoop of ice cream and selling 1000 scoops per month. Eddie wants to focus on meeting market demand and bringing in as much revenue as possible. He wants to only charge $3.75 per scoop of ice cream and sell 1500 scoops per month. Using a single market structure graph for the ice cream parlour. show the difference between the price and quantity combinations favored by Eddie and Edith. Explain whose strategy you recommend they follow and why