The Optimal Mark-Up Is: M = -1/ (E+1)

question 17

Multiple Choice

The optimal mark-up is: m = -1/ (E+1) .When the mark-up on cookware equals 50%,then demand elasticity (E) for cookware is:

• A) -1
• B) -1.5
• C) -2
• D) -3

---

Definitions:

Demographic Data

Statistical data relating to the population and particular groups within it, including information such as age, gender, income, and education.

Social Science

The systematic empirical study of the patterns, structures, and functions of human behavior, individually or in groups, within society.

Statistical Significance

A term used in statistical analysis to represent the probability that an obtained result has not occurred by chance.

Interpersonal Relationships

The connections or associations between two or more people.