If Jane Westerlund, Owner of a Picture Frame Store, Raises

question 18

Multiple Choice

If Jane Westerlund, owner of a picture frame store, raises the average price of a framed picture to $80 and the cost of goods sold is $36, what is the percentage markup on cost?

• A) 36 percent
• B) 55 percent
• C) 64 percent
• D) 100 percent
• E) 182 percent

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Definitions:

Empirical Research

A way of gaining knowledge by means of direct observation or experience, typically involving systematic data collection and analysis.

Cultural Differences

Variations in the practices, values, and beliefs among different societies and groups.

Benjamin Whorf

A linguist known for his hypothesis that the structure of a language affects its speakers' perception and categorization of their experience, known as linguistic relativity.

Whorfian Hypothesis

The theory suggesting that the structure of a language affects its speakers' worldview or cognition, also known as linguistic relativity.