An Import/export Business Marks Up Imported Merchandise by 120

question 300

Multiple Choice

An import/export business marks up imported merchandise by 120%. If an imported armoire originally costs $320, what is the marked up price?

• A)$384
• B)$404
• C)$704
• D)$724

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Definitions:

Spectator

An observer who watches or attends an event or activity without taking part in it.

Law-Of-Numbers

A principle suggesting that larger numbers of trials or samples lead to more stable and accurate averages and outcomes.

Group Think

A situation in collective decision-making processes where the pressure to agree or fit in causes outcomes that are irrational or lacking in effectiveness.

Cohesiveness

The degree to which members of a group are attracted to each other and motivated to stay in the group, often leading to improved performance and satisfaction.