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mel-nik [20]
2 years ago
8

Numbers are good at modeling quantities. However, they don’t model relationships very well. Hence, the need for additional symbo

ls 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.
Mathematics
1 answer:
SOVA2 [1]2 years ago
7 0
<h3>⚜Cost + Mark-up= Selling price</h3>

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

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

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