A certain item has a production cost of $24. The manufacturer takes a 25 percent markup, the wholesaler takes a 20 percent markup, and the retailer takes a 50 percent markup. The item therefore has a retail selling price of $80.
Answer the following statement true (T) or false (F)
True
A markup chain is the sequence of markups firms use at different levels in a channel and determines the price structure in the whole channel. The markup is figured on the selling price at each level of the channel.
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