You are a young entrepreneur and have just started a fishing company. Each fish can be sold for $10. You can choose between three types of boats. Big boats can fish in deep waters and will allow you to fish 100 fish per day. Medium size boats can fish in medium waters and catch 75 fish per day. Small boats can only fish in shallow waters and fish 40 fish per day. Big boats cost $100,000. Medium boats cost $65,000. Small boats cost $30,000. Big boats have maintenance and cost of operation per year is of $200,000 per year. Medium boats have maintenance and operations cost of $130,000 per year. Small boats have maintenance and operations costs of $80,000 per year. You have shown strong business quantitative skills and ample knowledge of macroeconomic theory. Your company has been able to raise $80,000 initial capital from the venture capitalists. You have tight competition from the market. Using an excel sheet, device a strategy for the next 7 years that will make your company grow in the most efficient way (minimize costs, maximize profits). Each year will be a simulation of 5 minutes. Make sure to properly calculate your profits considering yearly costs, sales, and initial investment. You can buy new boats at the beginning of each year. Keep track of your results year by year

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Answer Big Boat Medium Boat Small Boat Fish 100 75 40 Initial Costs 100000 65000 30000 Maintenance a... View the full answer