Determine the selling price for your product or service to evaluate profitability and market competitiveness. Consider market trends, competitor pricing, and consumer demand when setting a price point. Service providers must consider the costs of labor, overhead, and materials when calculating their breakeven point. For example, a consulting firm must consider the salaries of its consultants, the cost break even point of renting an office, and the cost of marketing its services when calculating its breakeven point.
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