Question: Jerry Smith is thinking about opening a bicycle shop. Jerry loves to go on 5 0 - mile rides, but Jerry believes that any small

Jerry Smith is thinking about opening a bicycle shop. Jerry loves to go on

50 -

mile rides, but Jerry believes that any small business should be started only if there is a good chance of making a profit. Jerry can open a small shop, a large shop, or no shop at all. The profits will depend on the size of the shop and on whether the market is favorable or unfavorable for the products in the shop. Because there will be a

5 -

year lease on the building that Jerry is think

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