Industries in Which Revenue Management Techniques Are Easiest to Apply

question 94

Multiple Choice

Industries in which revenue management techniques are easiest to apply are those where:

• A) use tends to be predictable, and pricing tends to be fixed.
• B) use tends to be predictable, and pricing tends to be variable.
• C) use tends to be uncertain, and pricing tends to be fixed.
• D) use tends to be uncertain, and pricing tends to be variable.
• E) All of these, i.e., there is no difference.

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Definitions:

Gallon

A gallon is a unit of volume measurement used primarily in the United States, equal to 3.785 liters.

Externality

An outcome from economic actions affecting external third parties not related to the activity, which could be either advantageous or detrimental.

Market

A system or an area where buyers and sellers interact to trade goods, services, or financial instruments.

Positive Externality

A benefit gained by a third party not directly involved in a transaction or activity, where the social or economic gain is not reflected in the market price.