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A company has a market share of 25% in a market worth $1,000,000. What is the co
A company has a market share of 25% in a market worth $1,000,000. What is the company's sales revenue?
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Q1
A company has a market share of 25% in a market worth $1,000,000. What is the company's sales revenue?
$250,000
$300,000
$200,000
$400,000
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Sales Revenue = Market Share x Total Market Value = 0.25 x $1,000,000 = $250,000.
Questions & Step-by-step Solutions
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Q
Q: A company has a market share of 25% in a market worth $1,000,000. What is the company's sales revenue?
Solution:
Sales Revenue = Market Share x Total Market Value = 0.25 x $1,000,000 = $250,000.
Steps: 7
Show Steps
Step 1: Understand that the market share is the percentage of the total market that the company controls. In this case, the market share is 25%.
Step 2: Convert the percentage into a decimal for calculation. 25% as a decimal is 0.25.
Step 3: Identify the total market value, which is given as $1,000,000.
Step 4: Use the formula for sales revenue: Sales Revenue = Market Share x Total Market Value.
Step 5: Substitute the values into the formula: Sales Revenue = 0.25 x $1,000,000.
Step 6: Calculate the result: 0.25 x $1,000,000 = $250,000.
Step 7: Conclude that the company's sales revenue is $250,000.
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