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Chapter 1: Intro to Revenue Management Exam Questions With 100% Accurate Answers
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Revenue - ANSWER-The total amount of sales achieved in a specific time period Revenue is calculated as - ANSWER-# of units sold * unit price = revenue Effective managers of an organization's revenues must do three things - ANSWER-1.) Understand the importance of revenue management 2.) Understand the many complex factors that influence revenue management strategies and tactics 3.) Become better at making revenue management decisions than the competitors Accountant's Profit Formula - ANSWER-Sales = Profit + Costs Applying basic algebra, the accountant's formula becomes - ANSWER-Profit = Revenue - Expense Both the buyer and the seller seek a - ANSWER-Profit
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revenue answer the total amount of sales achiev
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