Bill operates a boat rental business in a competitive industry. he owns 10 boats and pays $1,000 per month on the loan that he took out to buy them. he rents out each boat to his customers for $200 per month. the variable cost for each boat rental is $50. in the off season, bill should:
1. operate his business as long as he rents at least 7 boats per month.2. operate his business as long as he rents at least 1 boat per month.3. operate his business as long as he rents all 10 boats each month.4. raise the price he charges per boat rental.