Solve the Problem

question 43

Multiple Choice

Solve the problem. Round dollars to the nearest cent and rates to the nearest tenth of a percent.
-The Oak House had a markup of $23.24 on an oak table that they sold for $70.99. Find (a) the cost, (b) the markup on cost, and (c) the selling price as a percent of cost.

• A)$70.99, 32.7%, 305.5%
• B)$47.75, 48.7%, 148.7%
• C)$47.75, 32.7%, 67.3%
• D)$94.23, 24.7%, 75.3%

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Definitions:

Regret Aversion

A behavioral finance concept describing an individual's tendency to make decisions that minimize the potential for future regret.

Frame Dependence

A concept in behavioral finance where investors' decisions are influenced by the way information is presented to them, rather than just the information itself.

Self-Attribution Bias

This bias occurs when individuals attribute their successes to personal characteristics and skills but blame failures on external factors.

ISDEX

The Internet Stock Index, a stock market index comprising leading internet companies (historical context; may not be currently active).