A business student is considering opening a business selling ice
cream next summer. The student views this as an alternative to
taking summer employment with a local firm where he would earn
£4,000 during the 3-month summer period. It would cost £2,000 to
obtain a license to operate their stand, £1,200 per month to rent
the stand with the necessary equipment and £150 per month for
insurance. Petrol costs are estimated at £12 per day and are not
affected by...