A Retailer Buys a Particular Product for $4

question 99

Multiple Choice

A retailer buys a particular product for $4. To make a profit, the retailer adds $2 to cover operating expenses and provide a profit. The percentage markup on the $6 selling price is

• A) 50 percent.
• B) 33.33 percent.
• C) 100 percent.
• D) 20 percent.
• E) 25 percent.

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Definitions:

Fundamental Attribution Error

The tendency to overestimate the impact of personal disposition and underestimate the role of situational factors in explaining other people's behavior.

Peripheral Route Persuasion

A method of persuasion that relies on superficial factors, such as the attractiveness or credibility of the source, rather than logical argument.

Cognitive Dissonance

A state of mental discomfort arising from holding two or more conflicting beliefs, attitudes, or values, often leading to changes in beliefs or behaviors to reduce discomfort.

Aggressive Personality

An Aggressive Personality is characterized by patterns of behavior that express hostility or the desire to dominate others.