Blue Ridge Weavers Wants to Set Its Selling Price on an Item

question 140

Multiple Choice

Blue Ridge Weavers wants to set its selling price on an item so that the retail list price will be $50-taking into account the usual markups of 10 percent at wholesale and 30 percent at retail. At what price should Blue Ridge Weavers sell the item?

• A) $32.50
• B) $31.50
• C) $35.00
• D) $34.00
• E) $38.00

Recognize the challenges and limitations associated with different types of evaluations.

Understand the role of logic models in program planning and evaluation.

Acknowledge the influence of external factors on program goals and implementation.

Recognize the significance of program fidelity and the role of evaluation in a program lifecycle.

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Definitions:

Inverse Demand Function

The inverse demand function expresses the price of a good as a function of the quantity demanded, illustrating the relationship between price and quantity from a demand perspective.

Tax Imposed

Refers to charges or levies placed by a government on individuals or entities, influencing economic behavior, revenue collection, and market operations.

Grapefruit

A citrus fruit known for its slightly bitter taste and numerous health benefits, often used in diets and cooking.

Equilibrium

A state in a market where supply equals demand, conditions are stable, and there is no incentive for prices to change, leading to a balance between competing forces.