The Retail Price of a Sweater Is $161

question 65

Multiple Choice

The retail price of a sweater is $161.00, which includes a markup of 40% of cost. What is the cost price of the sweater?

• A) $115
• B) $70.84
• C) $64.40
• D) $96.60
• E) $100.63

---

Definitions:

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the quantity of that good or service that suppliers are willing and able to provide at each price level.

Before-tax

A financial figure or situation measured without considering the effects of taxation.

Excise Tax

A tax levied on specific goods, services, or transactions, often with the aim of reducing their consumption or generating revenue for the government.

Demand Curve

Demand curve is a graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period, typically showing an inverse relationship.