According to the Principle of Equivalence

question 3

Multiple Choice

According to the principle of equivalence

• A)mass and energy are two forms of the same thing.
• B)space and time are two forms of the same thing.
• C)electricity and magnetism are two forms of the same thing.
• D)observations made in an accelerating reference frame are indistinguishable from those made in a gravitational field.
• E)all of these

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Definitions:

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.

Yield Management

A variable pricing strategy based on understanding, anticipating, and influencing consumer behavior to maximize revenue or profits, especially in airline and hotel industries.