Assume it costs Lady Marion Seafood, Inc. $30 to each catch, process, freeze, package, and ship 5 pound packages of Alaskan Salmon. It uses a 60 percent markup on its salmon products and charges customers $48 for a postage-paid vaccum-sealed package. What type of pricing Lady Marion Seafood use

Standard markup pricing

Explanation:

Standard markup is a quick and easy way to find out how much you pay for your goods or services.

After calculating the actual cost of the product, the seller or business owner adds a percentage of the actual cost of the product to arrive at its selling price.

so here

Actual cost =  $30  

Markup =  60% of actual cost

Markup  = 0.6 × $30

Markup  = $18

so selling price is

selling price = $(30 + 18)

selling price = $48

turnover

the amount of money taken by a business in a particular period.