Question 9
At a certain ice cream parlor,customers can choose among five different ice cream flavors and can choose either a sugar cone or a waffle cone.Considering both ice cream flavor and cone type,how many distinct triple-scoop cones with three different ice cream flavors are available?
Question 10
A firm selling Manchester United pillowcases for $10 currently generates an annual turnover of $ 500,000.Variable costs average at $4 per unit and total annual fixed costs are &100,000.The marketing director is considering a price increase of 10%.Given that the price elasticity of the product is believed to be 0.4,please calculate:(Price elasticity = % change in quantity demanded / % change in price)
A.\x05The old sales volume (EXPRESS IN UNIT TERMS)
B.\x05The new sales volume (EXPRESS In UNIT TERMS)
C.\x05The new revenue (EXPRESS IN $ TERMS)
D.\x05The expected change in profit following the price increase (EXPRESS In % TERMS)