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In addition to the absolute pass-through that uses incremental values (i.e., $2 cost shock causing $1 increase in price yields a 50% pass-through rate), some researchers use pass-through elasticity, where the ratio is calculated based on percentage change of price and cost (for example, with elasticity of 0.5, a 2% increase in cost yields a 1% increase in price).
Markup price = (unit cost * markup percentage) Markup price = $450 * 0.12 Markup price = $54 Sales Price = unit cost + markup price. Sales Price= $450 + $54 Sales Price = $504 Ultimately, the $54 markup price is the shop's margin of profit. Cost-plus pricing is common and there are many examples where the margin is transparent to buyers. [4]
A cost-plus contract is often used when performance, quality or delivery time is a much greater concern than cost, such as in the United States space program. [9] Cost plus contracting was expanded to include services such as engineering, consulting, and a variety of other such efforts in the 1980's.
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The National Press Photographers Association (NPPA) is an American professional association made up of still photographers, television videographers, editors, and students in the journalism field. Founded in 1946, the organization is based in at the Grady College of Journalism and Mass Communication at the University of Georgia.
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PAA offered the Directory of Professional Photography, which first appeared in 1938, and the degree program, which awarded its first Master of Photography degree in 1939. [citation needed] The organization changed its name to Professional Photographers of America, Inc. in 1958 to distinguish the association from amateur photography organizations.
Brooks Institute of Photography was founded in 1945 by Ernest H. Brooks Sr. over a bakery on State Street in Santa Barbara, California. [2] [8] The school's first photography students were primarily World War II veterans supported by the G.I. Bill.