Solve the Problem

question 20

Multiple Choice

Solve the problem. Round dollars to the nearest cent and rates to the nearest tenth of a percent.
-Find the selling price of an item which cost a store $209. The store has a 30% markup.

• A)$160.77
• B)$696.67
• C)$62.70
• D)$271.70

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Definitions:

Indifference Curves

Indifference curves are graphs showing different combinations of two goods that provide equal satisfaction and utility to a consumer.

Budget Constraint

The cap on the combinations of goods a consumer is able to purchase, determined by their earnings and the cost of those items.

Utility

A measure of satisfaction or happiness that consumers derive from consuming goods and services.

Train Tickets

Tickets that grant the holder the right to travel on a train service, typically specifying the journey details.