Difference between a price setter and a price taker

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Reference no: EM133205025

Question: You are the Director of Finance for ABC Hospital and you were asked by department supervisors in finance and accounting to discuss and address the staff on the impact of what would happen financially to the organization over time if its prices were set at full costs, the impact of prices if they were set at marginal costs, the importance of the P&L statement, and breakeven analysis.

Provide examples and rationale for your responses. Include a discussion to the staff on the difference between a price setter and a price taker and explain if most providers may be classified strictly as price-setters or price takers.

Reference no: EM133205025

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