What Is the Cost of an Item for Which the Retail

question 233

Multiple Choice

What is the cost of an item for which the retail selling price is $860 and the margin is 25% of the selling price?

• A) $215
• B) $688
• C) $645
• D) $445
• E) $1,147

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Definitions:

Market

The institution through which buyers and sellers interact and engage in exchange.

S And D

Stands for Supply and Demand, which are the forces that determine the price of goods and services in a marketplace.

CD-Rom Drives

Hardware devices used for reading data stored on CD-ROMs, typically used for distributing software and storing media in the past.

Tariffs

Taxes on imports or exports between sovereign states, used to control trade, raise government revenue, or protect domestic industries.