Revenue Management Methodology Was Originally Developed for A(n)

question 35

Multiple Choice

Revenue management methodology was originally developed for a(n)

• A)cruise line.
• B)airline.
• C)car rental company.
• D)hotel chain.

---

Definitions:

Constant-Cost Industry

An industry in which the costs of production (including input prices) remain constant regardless of changes in the industry's output level.

Long-Run Equilibrium

A situation in which, after all adjustments have been made, all firms in a perfectly competitive market earn zero economic profit and no firm has an incentive to change its output.

Market Price

The existing rate at which a product or service may be purchased or sold within a market environment.

Competitive Market

A market structure where many firms offer products or services that are similar, leading to high levels of competition.