Using Cost-Based Pricing, What Is the Percentage Markup on an Item

question 64

Multiple Choice

Using cost-based pricing, what is the percentage markup on an item costing $1.00 and selling for $5.00?

• A) 25%
• B) 45%
• C) 55%
• D) 80%

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Definitions:

Psychological Variables

Factors that can be varied or measured in experiments or studies that reflect emotional, cognitive, and behavioral aspects of individuals.

Majority White

Descriptive term for a population, group, or area in which White individuals constitute the largest racial group but not necessarily more than half of the total population.

Subjective Social Status

An individual's perception of their own position within a social hierarchy, often measured through self-reporting tools.

Socioeconomic Status

A measure of an individual's or family's economic and social position relative to others, based on income, education, and occupation.