Which of the following formulas is correct for calculating the selling price of an item when the cost and the markup rate is known? P is the markup amount, B is the cost, and R is the markup rate.
a. B P = R; then add the cost and the markup for the selling price.
b. B P = R; then subtract the cost and the markup for the selling price.
c. B R = P; then subtract the cost and the markup for the selling price.
d. B R = P; then add the cost and the markup for the selling price.
Question 2
Many of the most successful applications of optimization in the real world have been in the areas of scheduling, blending, logistics, and aggregate planning.
a. True
b. False
Indicate whether the statement is true or false
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