Which of the Following Represents the Markup on a Scarf

question 155

Multiple Choice

Which of the following represents the markup on a scarf that costs $4 and sells for $6?

• A) 50%
• B) 33 1/3%
• C) 40%
• D) 20%

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Definitions:

Monopolistically Competitive

A market structure where many firms sell products that are similar but not identical, allowing for competition based on quality, price, and marketing.

Elastic Demand

A market condition where the quantity demanded of a good or service significantly changes in response to a change in price.

Oligopolist X

A firm operating in an oligopoly market structure, characterized by a small number of firms dominating the market.

Marginal Revenue

The additional income generated from selling one more unit of a good or service.