What is the difference between capacity-based revenue management and price-based revenue management? Explain and provide an example of each type. 

Suppose that, due to the pandemic, you r annual demand is 80% lower than in the previous year. In addition, suppose that your inventory holding cost increased by 20%, while everything else remained the same compared to the previous year. Should you increase or decrease the quantity ordered? What is the percentage of change relative to the previous year? 

Describe one real-world application from your personal experience that you were able to better understand using the tools and concepts learned in this course.