Revenue Management Is the Use of Pricing to Increase the Supply

question 52

True/False

Revenue management is the use of pricing to increase the supply chain surplus and profit generated from a limited availability of supply chain assets.

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Definitions:

Ending Inventory

The total value of goods available for sale at the end of an accounting period.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenue, indicating its financial health over a specific period.

Lower-of-Cost-Or-Market

An accounting principle that dictates inventory should be recorded at either its historical cost or its current market price, whichever is lower.

Net Income

The amount of money that remains from revenues after all expenses, taxes, and costs have been subtracted; a crucial indicator of a company's profitability.