It costs Lady Marion Seafood, Inc., $30 to catch, process, freeze, package, and ship five-pound packages of Alaskan salmon. The firm adds 60 percent to the cost of its salmon products and charges customers a total of $48 for a postage-paid vacuum-sealed package. What type of pricing does Lady Marion Seafood use?

Question

Quizplus · Accepted Answer

Lady Marion Seafood uses standard markup pricing, as they add a fixed percentage (60%) to the cost of their product to determine the selling price.

It Costs Lady Marion Seafood, Inc