If the Markup of a Product Is Twice Its Cost

question 39

Multiple Choice

If the markup of a product is twice its cost, what is the percent of markup on this product based on its selling price to the nearest percent?

• A) 67%
• B) 63%
• C) 33%
• D) 25%

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Definitions:

Works Council

A works council is an institution representing workers and employees in a company or organization, facilitating dialogue between the workforce and management on issues affecting their interests and working conditions.

German Law

The system of rules that operate in Germany, including a significant body of labor and employment law that governs the relationship between employers and employees.

Codetermination

A practice allowing workers and their representatives to participate in the management and decision-making processes of a company.

Sector Bargaining

The process of negotiating labor contracts by sector or industry rather than by individual company, to establish common standards for salaries, working conditions, and benefits.