Cheng builds replica miniature cabinets. His costs for each cabinet are $26 each. A consultant tells Cheng
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Question:
Cheng builds replica miniature cabinets. His costs for each cabinet are $26 each. A consultant tells Cheng that the average margin in his industry is 49%. Cheng currently sells the cabinets for $44.
If Cheng decides to sell to a retailer who wants a $10 margin, what will be the final retail price to the consumer?
$54.00
$59.00
$39.00
$44.00
Expert Answer:
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