Amerchant paid $3 each for golfing hats that he sold for $4 each. he therefore earned a gross profit of $1 per hat. by what per cent was the cost price increased to provide for this profit

The cost price was increased by 33.33 % to provide this profit

Explanation:

Given:

Cost price =  $3

Selling price  = $4

Gross profit  = $1

To Find:

Profit percentage =?

Solution:

Profit Formula calculates the net gains or losses incurred by subtracting total expenses from total sales.

Now profit  = 4 - 3 = 1

Now the profit percentage can be found by

=

=

=

=  33.33%

panem is a communist totalitarian dictatorship where all the resources and how they are allocated belongs to the capitol. the districts exist only to provide goods and services for the capital and most of the citizens live in poverty. it is a police state where the "peacekeepers" use force and threats to keep the people under control. dissent is outlawed and those who disobey the law are executed, flogged, or turned into avoxes. the games are another means in which the ruling elite in the capitol exert their power over the districts. when reading the books i drew parallels between panem and the soviet union and north korea. in no way is panem capitalist. the people in the capitol are wealthy but the majority of them are involved in the government somehow. it was the same way in the former soviet union where bigwigs in the communist party and high ranking government officials were given access to goods, services, medical treatments not available to the general public. if you think panem has a capitalist economy you need to brush up on your economics.