From the course: Finance and Accounting Tips

Unlock the full course today

Join today to access over 24,100 courses taught by industry experts.

Price maker or price taker and the impact of overhead costs

Price maker or price taker and the impact of overhead costs

From the course: Finance and Accounting Tips

Price maker or price taker and the impact of overhead costs

- We both work at Brigham Young University. Our offices are within 50 feet of each other. we teach similar classes. We've been there together for almost two decades, and, on occasion, we go to lunch together. - [Kay] When we do, we walk down the street and pass, what we affectionately call, the Bermuda Triangle of eating establishments. For years, we've watched restaurants and fast food places come and go. A new eating establishment will open up and, within a year, it'll go out of business. - As a result of this coming and going of businesses, we thought a lot about why this keeps happening. It's not for lack of demand. This Bermuda Triangle is sandwiched between a major university and a local high school. - There are other food establishments in the area that have made it and have stayed in business. So why do some make it, and some don't? - These small business entrepreneurs have dreamed of opening their own business for a long time. They've scrimped and saved. They've planned and…

Contents