Sweet Dream Hotel has labor costs that are mostly fixed, including registration desk, maintenance, and general repairs
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Which of these costs is relevant for determining the price of a room?
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While making any pricing decision remember that the sunk costs are not going to determine the prices ...View the full answer
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Raunak Sharma
I would like to quote Albert Einstein “If you can't explain it to a six year old, you don't understand it yourself.”, this is something that I strongly believe in. For a person to understand the nuances of a subject, he/she try to explain the subject matter to another fellow learner, it opens up new areas of understanding for the teacher.
This is something that i have followed as a student and as a professional. In my free time you will find me writing articles about monetary and fiscal policies of different governments as well as about corporate decisions which are worth pondering upon. During my engineering and management studies also I used to explain different subject matters to my fellow students and juniors. I use different smart methods of mnemonics to help student memorize the difficult things as well as break the complex financial jargons in lay-man's language to hlep them understand the concepts behind a mechanism.
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Related Book For
Cost management a strategic approach
ISBN: 978-0073526942
5th edition
Authors: Edward J. Blocher, David E. Stout, Gary Cokins
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