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Oparin, in the former Soviet Union, and Miller and Urey, in England, performed some of the first experiments to prove:
Perishable Inventory
Items or goods that have a limited lifespan or shelf life, requiring careful inventory management to minimize losses due to spoilage or obsolescence.
Yield Management
A pricing strategy that uses understanding of consumer behavior and market demand to maximize revenue, often used in the airline and hotel industries.
Variable Costs
Expenses that change in proportion to the level of production or sales activity, such as materials and direct labor.
Perishable Seats
Refers to seats in service industries (like airlines or event management) that cannot be sold after a certain time, leading to potential revenue loss.
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