All of the following observations concerning markups are true except
A) they guide pricing by intermediaries.
B) they are used by most retailers and wholesalers to set prices.
C) they are a cost-oriented price setting approach.
D) they are usually stated as dollar amounts.
E) they are related to selling price for convenience.

Question

Quizplus · Accepted Answer

Markups are typically expressed as a percentage of the cost or selling price, not as dollar amounts. This percentage helps in determining the selling price based on the cost of the product to the retailer or wholesaler.

All of the Following Observations Concerning Markups Are True Except