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I started a T-shirt business recently ( I am starting to work with retailer and need clarification of the terms "markup" and "margin".

One of the retailers says he needs to be able to buy product at a 50% margin from his vendors. Does that mean he needs to sell something for twice what he pays for it, or does he need to mark up 50% of what he pays for it. In the first case, he would buy a $20 shirt for $10. In the second, he would buy a $15 shirt for $10.

What's he asking for?

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