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In: Economics

Describe "price, percent markup, forecasted profits" for iPhone 8.

Describe "price, percent markup, forecasted profits" for iPhone 8.

Solutions

Expert Solution

Price of iPhone 8 = $699

Cost of an iPhone   = $247.51

Percent markup = [(price – cost)/cost]*100

                              = [(699 – 247.51)/247.51]*100

                              = 182.41%

Forecasted profit margin percentage = [(price – cost)/price]*100

                                                                   = [(699 – 247.51)/699]*100

                                                                     = 64.59%

Rahul Sunny answered 1 year ago
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