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Assume that an Electronic Shop sold 500 Ipods at $200 each. If they had paid $160 for each Ipod, what is their gross margin on

Assume that an Electronic Shop sold 500 Ipods at $200 each. If they had paid $160 for each Ipod, what is their gross margin on each Ipod and what is the total gross margin? What is their mark-up percentage?

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