Question: 7-1. For a given dollar amount of markup, which will be the larger number: the rate of markup on cost or the rate of markup

7-1. For a given dollar amount of markup, which will be the larger number: the rate of markup on cost or the rate of markup on selling price? Explain: .2. Is it possible for the rate of markup on selling price to exceed 100%? Explain : 3. Is it possible for the rate of markup on cost to exceed 100%? Explain. 4. Under what unusual circumstance will the rate of markup on cost equal the rate of markup on selling price? 5. Does a retailer break even if an item is sold at the cost C?

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