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OakHart,Inc.,the maker of widgets and whatnots,made merchandise costing $145,500 and sold it on credit to MapleHeart for $405,000 with terms 2/10,n/30.Some of the merchandise differed from what MapleHeart had ordered,so OakHart agreed to give an allowance of $10,000.MapleHeart satisfied the remaining balance by paying within the discount period.What is OakHart's gross profit percentage?
Leading Firms
Leading firms are companies at the forefront of their industries, often setting standards and trends for others to follow.
Perfect Competitor
an individual firm operating in a perfect competition market structure, which cannot influence the market price and produces a standard product.
Demand Curve
A graph showing the relationship between the price of a good and the quantity demanded by consumers, typically sloping downward from left to right.
Marginal Revenue
The additional revenue that is generated by selling one more unit of a product or service.
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