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Problem #3 - Lemonade Stand (Indifference Points) Part 1: Your younger cousin has told you that she wants to open up a lemonade stand. You

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Problem #3 - Lemonade Stand (Indifference Points) Part 1: Your younger cousin has told you that she wants to open up a lemonade stand. You plan to use business school experience to help her make the most profit possible. Currently the plan is to se lemonade for $2 per cup. Each cup of lemonade has variable costs based on the number of lem needed and fixed costs for the cups and other materials. With your cousin's limited budget, there 4 different options you can choose depending on the type of lemon you purchase, each with diffe variable and fixed costs. The 4 options are: Lemon Type Variable Cost / Cup Fixed Costs Luxury Lemons $1.50 $10 Basic Lemons $0.70 $22 Quality Lemons $1.10 $15 Rotten Lemons $0.40 $30 Fill out the following indifference table. Note that up to 6 indifference points are provided in the ta but you may not necessarily need to use them all. There is no need to fill out the shaded cells in table. Round all calculations to 2 decimal places. Indifference Table Indifference Test Profit "Luxury Profit "Basic Profit "Quality Profit "Rotten Points Points Lemons" Lemons" Lemons" Lemons" #1 #2

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