You decide youre going to invest $800 of your own money to kick off the lemonade stand. You have 3 months to make enough money to recoup your investment, make enough money for rent and other expenses, and hopefully, have some money left over so you can start off the fall semester with some cash before your on-campus job kicks in. You want to maximize the amount of money you keep, so decide not to hire any additional sales people, and will make and sell all the lemonade yourself.

Even though youll be busy with school and your internship, by working 4 days a week, and roughly 6 hours per day, over the course of 12 weeks, you anticipate you can make roughly $8,000 (or more) that summer!

1. How many cups of lemonade do you expect to sell over the three months?

2. What is the price youll set for each cup of lemonade you sell?

3.What do you estimate it will cost you to make each cup of lemonade?

4. Given the numbers above, what would be your overall estimated gross profit?