MKT $3301$ Spring $2024$ Problem Set

Chapter $18$: Price Setting

Nam $)$ate $$

Total Points: $50$

This assignment is aligned to the Course Learning Outcome No$.4$ outlined in the syllabus. Students will be able to calculate selling price using the markup method, and calculate the breakeven point using different pricing scenarios.

The best approach is to type out your answer, submit a Word Document. For full credit, show formula used and steps of the calculations. Only $25\%$ of the points will be given for correct answers without any steps shown.

An appliance retailer purchased a small vacuum cleaner for $$56\mathrm{.}00.$ He plans to add a $45\%$ markup and resell. What will be the retail selling price for the vacuum cleaner? $(2pts)$

If a retailer sells an oriental vase for $$312\mathrm{.}99.$ What was his markup if he bought the vase for $$115\mathrm{.}00$ from the wholesaler $(3$ pts$)$

Markup in actual dollars

Markup $($as a $\%$ of cost price$)$

Markup $($as a $\%$ of selling price$)$

$$

$$

According to our textbook, typically, wholesalers and retailers use markup which is expressed as a $\%$ of $$ for convenience.

Select the correct choice: A$.$ cost price

B$.$ selling price

$3.$ Walgreens offers Centrum Multivitamin for $$14\mathrm{.}99$ per Bottle $(150$ tablets$).$ Occasionally, Walgreens promotes Centrum with a "buy two, get the third bottle for free" type of promotion. When a consumer participates in this promotion, what is the actual selling price per Centrum bottle during the promotion?

$(2pts$