The cost of to a retailer of a ski patrol backpack used in emergency situations is $84.96. the retailer uses a markup of 40% based on cost. find the selling price.

118.94

Explanation:

Markup Price is the price which is marked above the cost price. It may be different from selling price if any discount is offered to the customer on the marked price, and it may be same if there is no discount offered to the customer.

Cost Price = $84.96

Markup Price = 40% above cost price = 84.96×(1+(40/100)) = 84.96 × 1.4 = 118.94

Selling Price = Markup Price × (1 - ((Discount %)/100))

Assuming no discount is offered to customer, Selling Price = Markup Price, and hence Selling Price = 118.94

answervulnerability assessment;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.