Question

Numbers are good at modeling quantities. However, they don’t model relationships very well. Hence, the need for additional symbols like the equal sign and inequality signs to communicate comparisons. For this week’s discussion board, we hope to understand the relationships that exist in the equations above.
For your initial post, consider the first equation: Cost + Markup = Selling Price. Why is this an important equation for businesses that sell products? Next, rearrange the equation to solve for ‘Markup.’ In other words, ‘Markup = …’. What is that equation saying about Markup? How is ‘Markup’ related to the other two quantities?

For your first reply post, reply to your own post and consider the second equation. What happens to the markup price as the ‘Number of Units Sold’ changes (goes up/goes down)? Explain your thinking and provide an example if it’s helpful.

For your second reply post, reply to a peer’s post and critique their thinking. Could they have explained something better? Is there something you can add to their post to make it more complete? If you cannot add to and improve their post, talk about what you liked most.

Answer 1

⚜Cost + Mark-up= Selling price

Why is this an important equation for businesses that sell products?

• This equation is important for businesses that sell products because this formula can help them find the selling price of items.
• And we know that selling price can be used to determine profit or loss. Determination of profit and loss is important when running a business.

Next, rearrange the equation to solve for ‘Markup.’ In other words, ‘Markup = …’. What is that equation saying about Markup? How is ‘Markup’ related to the other two quantities?

• Mark-up = Selling price - Cost
• Since, The sign of constant is changed when moving to the other side, The positive Cost will become negative.
• This equation is telling us the mark-up price when the selling price and cost is known.
• Mark up is the Cost that is not given, In other words Mark up is the price subtracted after giving discount on something.