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What price per visit must be set

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Q1. Ten physicians have just completed their residencies in internal medicine and are considering opening a group practice. They estimate the practice would have the following annual cost structure: annual fixed costs = $750,000 and variable cost per visit = $50. If volume in the first year is estimated to be 10,000 visits, what price per visit must be set if the practice wants to make an annual profit of $150,000?

1. $125

2. $50

3. $140

4. $90

5. $75

Q2. Ten physicians have just completed their residencies in internal medicine and are considering opening a group practice. They estimate the practice would have the following annual cost structure: annual fixed costs = $750,000 and variable cost per visit = $50. If volume in the first year is estimated to be 10,000 visits, what price per visit must be set if the practice wants to achieve accounting breakeven (e.g., profit = $0)?

1. $140

2. $125

3. $75

4. $50

5. $90

Reference no: EM132441674

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