To Use Yield Management Strategies a Business Should Have Which

question 123

Multiple Choice

To use yield management strategies a business should have which combination of costs?

• A) high variable and high fixed
• B) low variable and high fixed
• C) high variable and low fixed
• D) low variable and low fixed
• E) mixed variable and semi-fixed

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Definitions:

Efficient Scale

Efficient scale is the level of production at which a firm can produce its product at the lowest possible average total cost, optimizing resources and operational efficiency.

Government Policy

Strategies and actions taken by the government to influence or to directly manage the economy or certain sectors of it.

Output

The total quantity of goods and services produced by an economic system over a specific time period.

Double Scoop

A serving of ice cream consisting of two scoops, often of different flavors, placed together in a cone or cup.