It is useful to distinguish between the cost of obtaining and the cost of providing goods because
A) costs always pertain to specific actions.
B) obtaining is more costly than providing.
C) providing is more costly than obtaining.
D) supply must equal demand.
Question 2
As part of the financial crisis bailout plan in 2009, the Federal Reserve bought stakes in banks. This policy will result in an increase in the inflation rate. This is an example of
A) a positive statement.
B) a normative statement.
C) a microeconomic statement.
D) an economic model.
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Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.