The amount that is added to the overall cost of a product when setting the final selling price to ensure a profit is known as which of the following?

A) markup
B) the specified percentage
C) net income
D) gross margin

Markup

The amount added to the cost of a product in setting the final price. It can be based on selling price or on cost.

Specified Percentage

A particular proportion or share expressed as a fraction of 100, often relating to financial or operational metrics.

Net Income

The total profit of a business after all expenses and taxes have been subtracted from total revenue.