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An import car dealer sells three models of a car. The retail prices and the current dealer invoice prices (costs) for the basic models and
An import car dealer sells three models of a car. The retail prices and the current dealer invoice prices (costs) for the basic models and options indicated are given in the following two matrices (where "Air" means air-conditioning). We define the markup matrix to be M-N (markup is the difference between the retail price and the dealer invoice price). Suppose that the value of the dollar has had a sharp decline and the dealer invoice price is to have an across-the-board 15% increase next year. To stay competitive with domestic cars, the dealer increases the retail prices 10%. Calculate a markup matrix for next year's models and the options indicated. Basic Car Model Al Model B Model C Dealer invoice price AM/FM Basic Car Air Radio $30,530 $2197 $862 $34,234 $1540 $658 $41,569 $2829 $1193 Cruise Control $525 $351 =N $739 Model A Model B Model C $35,487 $39.087 $45,609 Retail Price AM/FM Cruise Air Radio Control $2659 $1534 $698) $1874 $811 $538 EM $3407 $1404 $811 Calculate a markup matrix for next year's models. Select the correct choice below and, if necessary, fill in the answer box(es) to complete your choice. OA. Basic Car Air AM/FM Cruise Radio Control Model Al Model B S $ S Model C $ $ (Round to the nearest integer as needed.) B. The markup matrix for next year's model does not exist
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