Question
Cheng builds replica miniature cabinets. His costs for each cabinet are $35 each. A consultant tells Cheng that the average margin in his industry is
Cheng builds replica miniature cabinets. His costs for each cabinet are $35 each. A consultant tells Cheng that the average margin in his industry is 51%. Cheng currently sells the cabinets for $45, but thinks he should consider using the industry average margin as his target goal.
What is Cheng's current dollar margin per unit?
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Public Finance In Canada
Authors: Harvey S. Rosen, Ted Gayer, Jean-Francois Wen, Tracy Snoddon
5th Canadian Edition
1259030776, 978-1259030772
