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If a business has a market share of 25% in a market worth $2,000,000, what is th

Practice Questions

Q1
If a business has a market share of 25% in a market worth $2,000,000, what is the business's revenue from that market?
  1. $400,000
  2. $500,000
  3. $600,000
  4. $700,000

Questions & Step-by-Step Solutions

If a business has a market share of 25% in a market worth $2,000,000, what is the business's revenue from that market?
  • Step 1: Identify the total market value, which is $2,000,000.
  • Step 2: Identify the market share of the business, which is 25%.
  • Step 3: Convert the market share percentage into a decimal. 25% as a decimal is 0.25.
  • Step 4: Multiply the market share (0.25) by the total market value ($2,000,000).
  • Step 5: Calculate 0.25 * $2,000,000, which equals $500,000.
  • Step 6: The revenue from the market for the business is $500,000.
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