REVENUE MANAGEMENT FINAL EXAM, PRACTICE EXAM
AND STUDY GUIDE LATEST 2024 ACTUAL EXAM 500
QUESTIONS AND CORRECT DETAILED (VERIFIED
ANSWERS) |ALREADY GRADED A+
which of the following terms would be included in the place portion of a hotel's
marketing mix?
-advertising
-product enhancements
-distribution channels
-promotions - ANSWER--distribution channels
what is the fundamental assumption upon which the law of supply is based?
-the higher the demand for a product the less of it will be produced by sellers
-the higher the demand for a product the more of it will be produced by sellers
-the lower the demand for a product the more of it will be produced by sellers
-the demand for a product does not affect its supply - ANSWER--the higher the
demand for a product the more of it will be produced by sellers
Revenue Management Final Exam, Practice Exam and Study Guide Latest 2024
Actual Exam 500 Questions and Correct Detailed (Verified Answers) | Already
Graded A+
,REVENUE MANAGEMENT FINAL EXAM, PRACTICE EXAM
AND STUDY GUIDE LATEST 2024 ACTUAL EXAM 500
QUESTIONS AND CORRECT DETAILED (VERIFIED
ANSWERS) |ALREADY GRADED A+
according to Alfred Marshall's work, if the price of a product is lower than the
natural, or equilibrium price, what will happen?
-a surplus will occur
-the demand for the product would exceed its supply
-the supply of the product would exceed its demand
-excess capacity would create constrained supply - ANSWER--the demand for the
product would exceed its supply
Assume an equilibrium price (P1) is in place for a product. What would the law of
supply and demand predict as an outcome if demand for that product increased?
-the new price (P2) would be higher than the previous price (P1) and supply would
decrease
-the new price (P2) would be lower than the previous price (P1) because supply
would decrease
-the new price (P2) would be higher than the previous price (P1) and supply would
increase
Revenue Management Final Exam, Practice Exam and Study Guide Latest 2024
Actual Exam 500 Questions and Correct Detailed (Verified Answers) | Already
Graded A+
,REVENUE MANAGEMENT FINAL EXAM, PRACTICE EXAM
AND STUDY GUIDE LATEST 2024 ACTUAL EXAM 500
QUESTIONS AND CORRECT DETAILED (VERIFIED
ANSWERS) |ALREADY GRADED A+
-the new price (P2) would be lower than the previous price (P1) because supply
would increase - ANSWER--the new price (P2) would be higher than the previous
price (P1) and supply would increase
what concept is displayed by the intersecting point on a supply and demand curve?
-the maximum price that should be charged for a product at a specific point in time
-an estimate of the price an average customer is willing to pay for a product
-an estimate of the amount of a product that would be purchased at a known price
and point in time
-the maximum price customers would willingly pay for a product if there were no
shortage of it - ANSWER--an estimate of the amount of a product that would be
purchased at a known price and point in time
what must be true if a product producer is to continue creating and selling
products?
-revenues must exceed costs
-costs must exceed profits
Revenue Management Final Exam, Practice Exam and Study Guide Latest 2024
Actual Exam 500 Questions and Correct Detailed (Verified Answers) | Already
Graded A+
, REVENUE MANAGEMENT FINAL EXAM, PRACTICE EXAM
AND STUDY GUIDE LATEST 2024 ACTUAL EXAM 500
QUESTIONS AND CORRECT DETAILED (VERIFIED
ANSWERS) |ALREADY GRADED A+
-profit must exceed costs
-costs must exceed revenue - ANSWER--revenues must exceed costs
what is the specialized branch of accounting that focuses on recording and
analyzing the expenses incurred by an organization?
-tax accounting
-financial accounting
-managerial accounting
-cost accounting - ANSWER--cost accounting
what is the industry term for the point at which an organization's revenues exactly
equal its costs?
-midpoint
-break-even point
Revenue Management Final Exam, Practice Exam and Study Guide Latest 2024
Actual Exam 500 Questions and Correct Detailed (Verified Answers) | Already
Graded A+
AND STUDY GUIDE LATEST 2024 ACTUAL EXAM 500
QUESTIONS AND CORRECT DETAILED (VERIFIED
ANSWERS) |ALREADY GRADED A+
which of the following terms would be included in the place portion of a hotel's
marketing mix?
-advertising
-product enhancements
-distribution channels
-promotions - ANSWER--distribution channels
what is the fundamental assumption upon which the law of supply is based?
-the higher the demand for a product the less of it will be produced by sellers
-the higher the demand for a product the more of it will be produced by sellers
-the lower the demand for a product the more of it will be produced by sellers
-the demand for a product does not affect its supply - ANSWER--the higher the
demand for a product the more of it will be produced by sellers
Revenue Management Final Exam, Practice Exam and Study Guide Latest 2024
Actual Exam 500 Questions and Correct Detailed (Verified Answers) | Already
Graded A+
,REVENUE MANAGEMENT FINAL EXAM, PRACTICE EXAM
AND STUDY GUIDE LATEST 2024 ACTUAL EXAM 500
QUESTIONS AND CORRECT DETAILED (VERIFIED
ANSWERS) |ALREADY GRADED A+
according to Alfred Marshall's work, if the price of a product is lower than the
natural, or equilibrium price, what will happen?
-a surplus will occur
-the demand for the product would exceed its supply
-the supply of the product would exceed its demand
-excess capacity would create constrained supply - ANSWER--the demand for the
product would exceed its supply
Assume an equilibrium price (P1) is in place for a product. What would the law of
supply and demand predict as an outcome if demand for that product increased?
-the new price (P2) would be higher than the previous price (P1) and supply would
decrease
-the new price (P2) would be lower than the previous price (P1) because supply
would decrease
-the new price (P2) would be higher than the previous price (P1) and supply would
increase
Revenue Management Final Exam, Practice Exam and Study Guide Latest 2024
Actual Exam 500 Questions and Correct Detailed (Verified Answers) | Already
Graded A+
,REVENUE MANAGEMENT FINAL EXAM, PRACTICE EXAM
AND STUDY GUIDE LATEST 2024 ACTUAL EXAM 500
QUESTIONS AND CORRECT DETAILED (VERIFIED
ANSWERS) |ALREADY GRADED A+
-the new price (P2) would be lower than the previous price (P1) because supply
would increase - ANSWER--the new price (P2) would be higher than the previous
price (P1) and supply would increase
what concept is displayed by the intersecting point on a supply and demand curve?
-the maximum price that should be charged for a product at a specific point in time
-an estimate of the price an average customer is willing to pay for a product
-an estimate of the amount of a product that would be purchased at a known price
and point in time
-the maximum price customers would willingly pay for a product if there were no
shortage of it - ANSWER--an estimate of the amount of a product that would be
purchased at a known price and point in time
what must be true if a product producer is to continue creating and selling
products?
-revenues must exceed costs
-costs must exceed profits
Revenue Management Final Exam, Practice Exam and Study Guide Latest 2024
Actual Exam 500 Questions and Correct Detailed (Verified Answers) | Already
Graded A+
, REVENUE MANAGEMENT FINAL EXAM, PRACTICE EXAM
AND STUDY GUIDE LATEST 2024 ACTUAL EXAM 500
QUESTIONS AND CORRECT DETAILED (VERIFIED
ANSWERS) |ALREADY GRADED A+
-profit must exceed costs
-costs must exceed revenue - ANSWER--revenues must exceed costs
what is the specialized branch of accounting that focuses on recording and
analyzing the expenses incurred by an organization?
-tax accounting
-financial accounting
-managerial accounting
-cost accounting - ANSWER--cost accounting
what is the industry term for the point at which an organization's revenues exactly
equal its costs?
-midpoint
-break-even point
Revenue Management Final Exam, Practice Exam and Study Guide Latest 2024
Actual Exam 500 Questions and Correct Detailed (Verified Answers) | Already
Graded A+
