The selling price of an item is $360. It is marked down by 10%, but this sale price is still marked up from the cost of $270. Find the markup from cost to sale price.

Step 1: It says the sales price of $360 is marked down. We find this by calculating 10% of 360, and subtract that from 360. This looks like: 360 - 360 times 0.1

Step 2: In order to find the markup from 270 to the new sale price, we need the difference of 270 to the new sale price.

So whatever number you get from the first step, subtract 270 from that, then you have your answer.

In a monopoly, one company will set a specific price for the good or service. But after some time, the monopolies can become inefficient and reduced its innovation. Since they don’t have to compete to others. Monopolies are less efficient in total gains from trade than a competitive company.