A Wooden Duck with a Regular Selling Price of $125

question 78

Multiple Choice

A wooden duck with a regular selling price of $125.99 is marked down to $79.99. The percent of markdown is:

• A)57.51%
• B)36.51%
• C)35.61%
• D)55.71%
• E)None of these

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Definitions:

Opportunity Cost

The expense incurred by not choosing the next most favorable option during a decision-making process.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, a foundational concept in economics that emphasizes the potential benefits that are missed when choosing one option over another.

Bushel

A unit of measure for volume, used primarily in dry commodities trading, equivalent to about 8 gallons or 36.4 liters in the U.S.

Acre

A unit of land area used primarily in the Imperial and US customary systems, equal to 43,560 square feet or about 4047 square meters.