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Markup
1. The amount (percentage) by which price exceeds marginal cost. A profit-maximizing seller facing a price elasticity of demand, h will set a markup equal to (p-c)/p=1/h. One effect of international trade that increases competition is to reduce markups.
2. In WTO terminology, sometimes used for the extent to which an applied tariff exceeds the bound rate.
Similar MatchesVector Markup LanguageVector Markup Language
(VML) - an XML application developed by Microsoft for embedding vector graphics in Web pages as an alternative to GIF and JPEG images (vector graphics display much faster over slow network connections than traditional bitmapped images such as GIF and JPEG).
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