> Question 31 A manufacturer sells $8/unit to wholesalers who mark up by 25% on manufacturer selling price. Afterwards, the retailers mark up by 33.33% on consumer purchase price. Here, wholesaler markup is based on selling price, retailer markup on cost All the other 4 answers are correct. Wholesaler markup is based on cost, retailer markup on selling price both wholesaler and retailer markup are based on cost both wholesaler and retailer markup are based on selling price