“Demand, Cost and Price Adaptation”  Please respond to the following:

• Referring to the same novel health care product or service you came up with last week (Week 6 Discussion), determine how you would assess demand for and the cost to produce your product or deliver your service and establish a price. Provide a rationale to support your response.
• Describe a situation that would require you to adapt the price of your product or service. Consider the impact of government and private payers on your pricing strategies. Provide specific examples to support your response.