An Item Has a 8

question 2

Multiple Choice

An item has a 8.2% markup based on selling price. What is the equivalent markup percent based on the cost?

• A) 92.4%
• B) 7.6%
• C) 8.9%
• D) 91.1%

---

Definitions:

Bus Fares

The charges levied for traveling on a bus, typically based on the distance or zones traveled.

Revenues Dropped

A situation in which the total income generated by a business from its activities decreases compared to a previous period.

Price Elasticity of Demand

A study of how price developments influence the demand proportions for a commodity.

Income Elasticity of Demand

An indicator of the variation in demand for a product or service resulting from alterations in buyers' income levels.