3.Compute the complement rate and the net price using the complement method.ListTradePriceDiscount16%$2,670ComplementRatea. Complement Rate: 94%; Net Price $2,509.80b. Complement Rate: 84%; Net Price $427.20c. Complement Rate: 84%; Net Price: $2,242.80d. Complement Rate: 16%; Net Price $2,242.80NetPrice

Answered: List Price $2,670 ment rate and the…

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter3: Your Role As A Consumer

Section3.1: Consumption, Income, And Decision Making

Problem 2R

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Question

3.
Compute the complement rate and the net price using the complement method.
List
Trade
Price
Discount
16%
$2,670
Complement
Rate
a. Complement Rate: 94%; Net Price $2,509.80
b. Complement Rate: 84%; Net Price $427.20
c. Complement Rate: 84%; Net Price: $2,242.80
d. Complement Rate: 16%; Net Price $2,242.80
Net
Price

Expert Solution

Step 1: Define Trade Discounts:-

Giving trade discounts is a type of marketing tactic used in business and finance where a company lowers the price of its given products to entice potential buyers. Generally, trade discounts are offered for large orders.

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