Regarding wholesalers, which of the following types has the LOWEST operating expenses as a percent of sales?

Question

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Agent wholesalers typically have low overhead costs as they do not physically handle or store inventory. Instead, they act as intermediaries between buyers and sellers, earning a commission on the transactions they facilitate. This allows them to have a lower operating expenses as a percent of sales compared to other types of wholesalers such as merchant wholesalers, manufacturers' sales branches, and specialty wholesalers who have higher overhead costs like warehousing, transportation, and advertising expenses. Service wholesalers, on the other hand, provide services like financing, marketing, and logistical support to manufacturers and retailers, which can result in higher operating expenses.

Regarding Wholesalers, Which of the Following Types Has the LOWEST