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service industries

This topic has 1 reply, 2 voices, and was last updated 5 years ago by John Moffat.

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September 12, 2020 at 5:46 am #585231
Noah098
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sir why is it generally said that costs in service industry are predominantly fixed?
thanks!
September 12, 2020 at 9:22 am #585272
John Moffat
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Think of a hotel. Although some of their costs will be variable, most of the costs of running a hotel are fixed – they do not change with the number of people staying in the hotel.
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