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Why is it important for managers to understand the concept of break-even points? Are there any drawbacks to using break-even analysis? How important is it

Why is it important for managers to understand the concept of break-even points? Are there any drawbacks to using break-even analysis?
How important is it for a company to estimate ROI before launching a new product? What does a target ROI enable that company to do?
How does the stage of a products life cycle affect price? Give some examples.

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