Evaluate the Following Facts and Then Answer the Following Questions $\quad$

question 140

True/False

Evaluate the following facts and then answer the following questions:
Day 1 $\quad$$\quad$ S sends a letter to B with the following: "I will sell you my Play Station 3 for $150 when I get my new Play Station."
Day 2 $\quad$$\quad$ B receives the letter and responds,"I will take the Play Station for $150."
-S has made a valid offer to B.

Calculate the rate of markup on selling price versus markup on cost.

Understand the relationship between operating profit, overhead, and mark-up in retail settings.

Analyze sales strategies through discounting and its effect on profit.

Calculate and interpret the single equivalent discount rate of multiple discounts.

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