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Revenue Management One Price Set You work for Saudi Airline The ticket flight from Jeddah to London is priced at 4,000 SAR per seat The airplane capaciy is 300 seats The expected occupancy rate is 80% based on one price set Each flight has a variable cost of 100 SAR per seat ( Ex. Meals) Each flight has a fix cost of 100,000 per flight Calculate the total income \begin{tabular}{|c|c|c|} \hline Flight Cost ( Fixed) & 100,000 & SAR per flight \\ \hline Number of Seats & 300 & Seats \\ \hline Variable cost & 100 & SAR per seat \\ \hline Selling Price & 4000 & SAR per seat \\ \hline Occupancy Rate & 80% & of airplane \\ \hline Number of seats being sold & & Seats \\ \hline Total Income & & SAR \\ \hline \multicolumn{3}{|l|}{ Three Different Price Sets } \\ \hline \multicolumn{3}{|c|}{ You are the planner and you decided to offer three different prices instead of one price ( 4000 SAR per seat) } \\ \hline \multicolumn{3}{|c|}{ The first price set is 2,000 SAR per seat for the first 30% of passengers ( Early Bird) } \\ \hline \multicolumn{3}{|c|}{ The second price set is 4,000 SAR per seats for the second 50% of passengers } \\ \hline \multicolumn{3}{|c|}{ The third price set is 5,000 SAR per setas for the last 20% of passengers ( Late reservation - last two weeks) } \\ \hline Flight Cost ( Fixed) & 100,000 & SAR per flight \\ \hline Number of Seats & 300 & Seats \\ \hline Variable cost & 100 & SAR per seat \\ \hline First price set at 2000 SAR per seat & 2000 & SAR per seat \\ \hline Expected Occupancy Rate & 30% & of airplane \\ \hline Number of seats being sold & & Seats \\ \hline Second price set at 4000 SAR per seat & 4000 & SAR per seat \\ \hline Expected Occupancy Rate & 50% & of airplane \\ \hline Number of seats being sold & & Seats \\ \hline Third price set at 5000 SAR per seat & 5000 & SAR per seat \\ \hline Expected Occupancy Rate & 20% & of airplane \\ \hline Number of seats being sold & & Seats \\ \hline Total Income & & SAR \\ \hline \end{tabular}