What Is "Markup"? Markup Is the Point at Which the Firm Covers the Firm

Short Answer

What is "markup"?
Markup is the point at which the firm covers the fixed and variable costs.
Markup is the amount of money left over after all expenses have been deducted from revenues.
Markup is an amount equal to demand divided by product cost.
Markup is an amount added to the cost of the item to arrive at the selling price.
Markup is the point where demand equals supply.