Answer:
Yield management pricing
Explanation:
Yield management pricing is the charging of different prices for a given set of capacity at a specific time in order to maximize revenue. This is based on the demand and supply in the market and is very common in industries such as airlines, hotels and resorts. When there is very high demand for airline seats, prices for them are high. However, if some of those passengers decided to refund their tickets, close to departure and the flight would be taking off soon, instead of flying with empty seats and no revenue from them, the airline would decide to sell these same seats at a cheaper rate in order to gain some revenue. This is a form of revenue maximization.
Kane manages a used book store he reads a report advising him to stock more encyclopedias. However the report is mistaken customers in Kane's town hardly ever buy encyclopedias. what problem could this mistake cause?
As mentioned below, if the consumers do not buy the encyclopedias, then they will lose money due to purchasing items that consumers do not want. It's necessary to not only look over reports, but understand the reports to make sure that a business is not overstocking in items that consumers are not actually in demand for. Consumers will purchase items they have a demand for and based on the reports, you can understand the items they are in demand for versus the items they will not be purchasing.
The gold standard of the 1900 ended the system that is known as the practice of bimetallism.
The gold standard act of the year 1900 was signed by President McKinley. This made gold to be the singular basis for the redemption of paper money in the United States.
This signing by the president was what put halt to what was regarded as bimetallism. This was the system that also allowed the use of silver also for the sake of monetary purposes.
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<span> the rate of inflation for that year is 10%
To calculate the rate of inflation for that year, we need to use this formula:
Rate of inflation = (CPI2 - CP1) / CPI1
Rate of inflation = (275 - 250) / 250
Rate of inflation = 25 / 250
Rate of inflation = 1 / 10
Rate of inflation = 10 %</span>
Answer:
C) perfectly elastic and identical to the firm in perfect competition.
Explanation:
In a perfectly competitive market, firms supply identical products, so the customers are indifferent towards buying the product from any supplier. What makes a monopolistic competition market different is that products are differentiated, so the customers will choose from which supplier to purchase the product.
When the products are identical (not differentiated), then the firm's demand curve will be perfectly elastic because a change in price will make their customers simply change the supplier. I.e. the products are all substitutes.
