The correct expression for cost plus pricing is
A) Price = Cost (1 + profit margin).
B) Price = Cost + profit margin.
C) Price = Cost (1 + mark-up).
D) Price = Cost + (1 + mark-up).
C
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Assume Ford Motor company purchases a robot that can do the welding work of ten union workers. If the robot is a perfect substitute for labor what can we be sure is true about the annual cost of using and maintaining one robot?
What will be an ideal response?
A decrease in the growth rate of labor productivity is likely to cause a decrease in ________
A) the growth rate of the real wage B) the growth rate of the marginal product of capital C) the growth rate of the labor supply D) the share of labor income in national income E) none of the above
When economists refer to "investment," they are describing a situation where:
A. people are buying shares of corporate stock. B. resources are devoted to increasing future output. C. money is saved in a bank account. D. financial assets are purchased in the hope of a monetary gain.
If credit card balances rise in the economy, then M1 will ________ and M2 will ________
A) increase; increase B) not change; increase C) decrease; increase D) not change; not change E) increase; decrease