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Seneca College *

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440

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Industrial Engineering

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Nov 24, 2024

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Uploaded by BrigadierWillpower1924

10/30/23, 9:24 AM Chapter 5 Quiz https://www.ameengage.com/mod/quiz/review.php?attempt=4637661&cmid=1260610&page=7 1/2 Dashboard / My courses / [Seneca 09/2023] HTM440NHB - Nardi / CHAPTER 5 - Pricing Methods / Chapter 5 Quiz Question 8 Correct Mark 1.00 out of 1.00 Assume the cost plus pricing strategy is used. If a restaurant’s markup is 70% and the total product cost is $5, how much should it charge for this particular product? Select one: a. $5.00 b. $5.70 c. $8.50  d. $7.00 Your answer is correct. Explanation: The selling price should be $8.50, calculated as [$5.00 × (1 + 0.70)]. The correct answer is: $8.50

10/30/23, 9:24 AM Chapter 5 Quiz https://www.ameengage.com/mod/quiz/review.php?attempt=4637661&cmid=1260610&page=7 2/2

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