6. A firm producing fancy dress costumes estimates the fixed costs per costume at €20 and the variable costs at €5.

a. Using this information, calculate the price if:

i. The desired profit margin is 75 per cent.

ii. The desired mark-up is 45 per cent.

b. The firm knows that its rivals charge €50 per costume and it wants to undercut its rivals by 10 per cent.

i. Calculate the price, the profit margin and the mark-up.