Business any hospital. Using the following questions and statements to begin analysis, offer strategies to increase total revenue.
Is the business a sole proprietorship, a partner, or a corporation?
Describe the benefit of the service to immediate consumer. What needs does the service provide?
What types of substitute and complementary goods are available for the good or service?
To what degree do the substitute services or goods influence the pricing decisions?
Is the good or service considered normal or inferior?
To what degree is the service price elastic or in elastic?
Describe any issues including taxation and government intervention that effect consumer demand and price.
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