I have no idea about the cost of fondant. However, you can make an at-home version of fondant by melting icing to a liquidey consistency or by applying icing as it is from the tub to a still-hot cake. This will cause the icing to melt, but as you layer it, it will cool and form an icing that is more consistent with fondant, than the thick spread that is usually on cake.
It all depends on the brand but usually a 2 lb. tub costs $10
from one dollar to five dollars
No. You do not have to put icing under the fondant on a cake. You can bake a cake and not put any icing on it and just put fondant on it if you wish. No law forces you to put icing on the cake. With that said, How do you plan to stop the icing at the edge of the fondant? Which will you apply first? Normally sugar in the the icing causes it to stick to the cake and also causes the fondant to stick to the icing. So if you have messy people eating your cakes and do not want the fondant to fall off the plates onto the rug as they walk around the living room at a party, it would be best to use icing as a glue.
It's a brand of fondant icing made by Bakels
If you are making icing, yes. If you are making a meringue, no.
Yes, but the look will not be exactly the same. Fondant will tend to have a much smoother and more uniform look to it.
Fondant is best for outdoor weddings.
food coloring
Fondant goes over icing that has been on a cake in the fridge.
Marzipan under fondant icing makes the cake too sweet, because fondant icing makes the cake too sweet on their own. It is better to use a buttercream with less sugar.
the frosting
They usually use fondant
Fondant
Rolled-in-fat dough is generally creamed butter (it can also be shortening), with a small amount of flour added to it. It is used as the fat layer to make puff pastry, danish and croissant doughs.