If Jane Westerlund, Owner of a Picture Frame Store, Raises

question 12

Multiple Choice

If Jane Westerlund, owner of a picture frame store, raises the average price of a framed picture to $100 and the cost of goods sold is $36, what is the percentage markup on selling price?

• A) 36 percent
• B) 55 percent
• C) 64 percent
• D) 100 percent
• E) 178 percent

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Definitions:

Cognitive Processes

Mental activities involved in acquiring, processing, storing, and applying information, such as perception, memory, and reasoning.

Secondary Reinforcers

Stimuli that have no inherent value but become reinforcing through their association with primary reinforcers.

Operant Conditioning

An educational method where the intensity of a behavior is altered through reward or penalty.

Law Of Effect

Thorndike’s principle that behaviors followed by favorable consequences become more likely.