Question: What is the difference between a markup and a margin? markups and margins are both based on the cost of the product to the firm

What is the difference between a markup and a margin?

markups and margins are both based on the cost of the product to the firm that is marking it up, but margins are larger

when stated as a percentage, markups are based on the cost of the product and margins are based on the selling price of the product

margins are based on costs, while markups can based on the final price

there is no difference, they are the same

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