Fine Framings, a Small Framing Shop, Uses Markup Pricing to Arrive

question 56

Multiple Choice

Fine Framings, a small framing shop, uses markup pricing to arrive at a final selling price. The firm sells its frames at a price of $25, given a $15 unit cost. Fine Framings' markup on the selling price is _____, and its markup on cost is _____.

• A) 66 2/3 percent; 40 percent
• B) 40 percent; 66 2/3 percent
• C) 167 percent; 67 percent
• D) 250 percent; 100 percent

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Definitions:

Muscles and Joints

Components of the musculoskeletal system, with muscles providing the force to move the body and joints allowing for motion between bones.

Parietal Lobes

Regions of the brain located behind the frontal lobes, involved in processing sensory information and spatial orientation.

Sense of Touch

The ability to perceive and interpret information through physical contact, using receptors in the skin to detect pressure, temperature, and pain.

Thalamus

A crucial brain structure that acts as a relay station for sensory and motor signals to the cerebral cortex, involved in consciousness and alertness.