Mr Small, the Store Manager for Jay's Appliance, Is Having

question 47

Multiple Choice

Mr. Small, the store manager for Jay's Appliance, is having a difficult time placing a selling price on a refrigerator that cost $410. Mr. Small knows his boss would like to have a 45% markup based on cost. The selling price should be:

• A)$745.45
• B)$754.54
• C)$594.50
• D)$549.50
• E)None of these

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Definitions:

Conditioned Response

A learned reaction to a previously neutral stimulus that occurs as a result of conditioning, typically demonstrated in Pavlov’s dog experiment.

Unconditioned Response

A spontaneous, innate response to a trigger that happens without any previous training or conditioning.

Conditioned Stimulus

A previously neutral stimulus that, after association with an unconditioned stimulus, comes to trigger a conditioned response.

Unconditioned Stimulus

A stimulus that naturally and automatically triggers an unconditioned response without prior conditioning.