Final answer:
The objective of negotiating contract type and price (estimated cost and fee) in business is to reach mutually agreeable terms and establish a fair and reasonable price.
Step-by-step explanation:
The objective of negotiating contract type and price (estimated cost and fee) in business is to ensure that both parties in the contract reach mutually agreeable terms and conditions that are beneficial to each party. Negotiating the contract type involves determining the structure and terms of the contract, such as whether it will be a fixed-price contract, cost-reimbursable contract, or a combination of both. Negotiating the price, specifically the estimated cost and fee, involves establishing a fair and reasonable price for the goods or services being provided.