market research math quiz\nquestion 2 of 10: you plan on using cost - based pricing. the cost of your…

market research math quiz\nquestion 2 of 10: you plan on using cost - based pricing. the cost of your product is $10, and you are planning a 30% mark - up. what should the price of your product be?\n a) $12.52\n b) $12.04\n c) $13.00\n d) $13.57

market research math quiz\nquestion 2 of 10: you plan on using cost - based pricing. the cost of your product is $10, and you are planning a 30% mark - up. what should the price of your product be?\n a) $12.52\n b) $12.04\n c) $13.00\n d) $13.57

Answer

Explanation:

Step1: Calculate mark - up amount

The mark - up amount is 30% of the cost. The cost is $10. So the mark - up amount $m$ is calculated as $m = 10\times0.3=3$.

Step2: Calculate the selling price

The selling price $p$ is the sum of the cost and the mark - up amount. So $p=10 + 3=13$.

Answer:

C. $13.00$