augiebear5137 augiebear5137
  • 01-04-2021
  • Mathematics
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A tennis supply store pays a wholesaler $90 for a tennis racquet and sells it for $170. What is the markup rate? (Quantity)

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fitzroywilliamsjr6
fitzroywilliamsjr6 fitzroywilliamsjr6
  • 01-04-2021

Answer:

Markup is the difference between the cost of a good or service and its selling price. A markup is added to the total cost incurred by the producer of a good or service in order to create a profit. The total cost reflects the total amount of both fixed and variable expenses to produce and distribute a product. So it would be 144 - 90 = 54. $54 would be the markup.

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