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    Costs, Price, and Profit

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    Discuss the distinctions between costs, price, and profit. Include a description of cost analysis and price analysis in the discussion and the impact of price and cost when negotiating the various contracting methods and types .

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    Definitions:

    Cost: In a general sense, it is the amount paid for a product or service. It can be the amount that is needed to obtain, produce, or maintain something. It is normally a monetary value of materials, time, resources, risks, and other opportunities lost in the production and delivery of a product or ...

    Solution Summary

    Discuss the distinctions between costs, price, and profit. Include a description of cost analysis and price analysis in the discussion and the impact of price and cost when negotiating the various contracting methods and types .

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