Assuming that a product's price is greater than its variable cost, which of the following statements is correct?

The markup $(\%)$ of the product is the same as the margin$(\%)$ of the product. The markup$(\%)$ of the product is smaller than the margin$(\%)$ of the product. The margin$(\%)$ of the product is smaller than the markup$(\%)$ of the product. Whether the margin$(\%)$ or the markup$(\%)$ is greater cannot be determined.