Scenario 16-3 Peter Operates an Ice Cream Shop in the Center of Center

question 1

Multiple Choice

Scenario 16-3
Peter operates an ice cream shop in the center of Fairfield. He sells several unusual flavors of organic, homemade ice cream so he has a monopoly over his own ice cream, though he competes with many other firms selling ice cream in Fairfield for the same customers. Peter's demand and cost values for sales per day are given in the table below. (Everyone who purchases Peter's ice cream buys a double scoop cone because it's so delicious.)
-Refer to Scenario 16-3. What price should Peter charge per double scoop ice cream cone to maximize his profit?

• A)$5.60
• B)$4.40
• C)$3.20
• D)$2.40

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Definitions:

Collectivist Cultures

Societies or cultures that prioritize the group over the individual, emphasizing interdependence, family ties, and social harmony.

Individualism

A social theory favoring freedom of action for individuals over collective or state control.

Cultural Intelligence

The capability to function effectively across various cultural contexts, understanding and adapting to cultural differences.

Cultural Distance

Cultural distance refers to the differences in cultural values, practices, and traditions between two countries or societies, impacting international business operations and interactions.