To Use Yield Management Strategies a Business Should Have Which

question 68

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) either A or B

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Definitions:

Competitive Industry

A market sector characterized by many firms competing against each other for customers, leading to innovation and lower prices.

Market Demand

The total quantity of a particular good or service that all consumers in a market are willing and able to purchase at various prices.

Competitive Industry

An industry environment where numerous competitors offer similar products or services, resulting in the need for businesses to vie for market share and customer attention.

Homogenous Product

Goods that are identical in quality and cannot be distinguished from one another by consumers.