Explanation:
An agreement between rivals to set a uniform price for all producers or sellers of products or services is considered a horizontal restraint of trade under the Sherman Act 1. This kind of blatant trade restriction is anti-competitive and is therefore prohibited.
Explanation:
We must first determine the cost. This can be calculated using the following formula: Markup Percent on Cost * Cost = Amount of Markup. The result of the calculations is .15 * Cost = $17. We now have $113.33. After setting the selling price equal to selling price = cost + markup, we can calculate the selling price as follows: selling price = $113.33 +.15($113.33), or $130.33.
Explanation:
A product that is regularly purchased is considered a staple.
Explanation:
You must divide the markup by the cost to get the markup as a percentage of cost. In this case, the equation would be $500/$1,000 = 50.
Explanation:
Retailers who carry a wide range of non-perishable goods rely on general merchandise wholesalers.
Explanation:
Wholesalers minimize a producer's inventory levels by storing goods, providing capital to lessen the producer's demand for working capital, lowering credit risk by doing business with known clients, and offering market intelligence as a buyer and seller.
Explanation:
A product is referred to as a family brand if the producer also controls the sales team.
