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Jeff runs a mini golf course in Valdosta, Georgia USA. He rents the course and equipment and he himself is the only labor. His monthly earnings after rent is $800, and he considers working at the mini golf course just as good as his alternative of working as a bank teller for $800/month. Jeff learns his uncle has died and left him a $10,000,000 piece of land in New York. Jeff did some research online and found that he could hire a construction company to install and maintain a mini-golf course with equipment for $4000/month. Jeff, who has completed Payap’s Business Statistics and Research course, conducted a market survey and concluded he would earn $16,000/month in revenue by having mini-golf on this land. Jeff knows now that after deducting $4000/mo from the $16,000/mo he would be free and clear of an income of $12,000/month. Assuming cost of living is the same and Jeff enjoys living in both cities the same, he wants to maximize profit, should he switch his operation to New York?
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