If the cost of a swimsuit is $26.50 and the MU % is 61.5%, what is the retail price for which you can sell the swimsuit? What pricing strategy should the store use if you are a fast fashion retailer?

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
icon
Related questions
icon
Concept explainers
Topic Video
Question

If the cost of a swimsuit is $26.50 and the MU % is 61.5%, what is the retail price for which you can sell the swimsuit? What pricing strategy should the store use if you are a fast fashion retailer?

Expert Solution
Step 1

Retail Price=Cost+Cost×MU%                =$26.50+$26.50×61.5%                =$26.50+$26.50×61.5100                =$26.50+$16.30                =$42.8

So, retail price for which we can sell the swimsuit is $42.8.

 

trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Application of Algebra
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, probability and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
Probability
ISBN:
9780134753119
Author:
Sheldon Ross
Publisher:
PEARSON
A First Course in Probability
A First Course in Probability
Probability
ISBN:
9780321794772
Author:
Sheldon Ross
Publisher:
PEARSON