Question

In: Economics

Why do lawyers and accountants not typically post prices for their service?

Why do lawyers and accountants not typically post prices for their service?

Solutions

Expert Solution

so basically these kinds of Professions come under services industry and definitely they don't reveal their prices because they have to cater their services based on the requirement of their client and that's why it would not be possible for them to fix a certain set of prices for their services. as we know a lawyer has to defend different cases which may vary depending on different parameters mainly the complexity that is indulged in the case decides the price for the service of lawyer even prior experience of the same case will be helpful for lawyer for asking high service rates however sometimes prices are also decided based on the requirement of their client similarly, in the case of accountants they have to work differently based on the availability of data thus even they cannot decide their price for their service and this is the reason why service-based industry profession cannot decide their price as they have work differently with every client based on their urgency and requirements.


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