Given That Selling Price Is $200, Unit Cost Is $120

question 81

Multiple Choice

Given that selling price is $200, unit cost is $120, and a profit of $80. What is the company’s markup percentage?

• A)50%
• B)66.7%
• C)150%
• D)250%

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Definitions:

Supply Curve

A graph that shows the relationship between the price of a good and the quantity supplied, typically upward sloping reflecting higher prices incentivizing more supply.

Perfectly Elastic

A market condition in which demand or supply for a good or service is infinitely sensitive to changes in price, leading to immediate adjustments.

Supply Of Steel

The total amount of steel available for use or sale, which could include production output, imports, and stored inventory.

Demand For Steel

The total market desire to purchase steel, influenced by various economic and industrial factors.