Answer to Question #255821 in Microeconomics for my name

Question

Assume that you are an enterpreneur of a hotel what are the fixed and variable costs to be carried out in that business

Answer 1

Fixed costs are expenses that are set in stone and do not change depending on production or how well the firm is doing. Variable expenses fluctuate over time and are determined by the business's performance and the number of services it provides. Wages are paid by the hour.