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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 revenue from this market?
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Practice Questions
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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 revenue from this market?
$250,000
$500,000
$750,000
$1,000,000
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Revenue = Market Share x Total Market Value = 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 revenue from this market?
Solution:
Revenue = Market Share x Total Market Value = 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: Know that the total market value is the total worth of the market, which is $1,000,000.
Step 3: To find the company's revenue, you need to multiply the market share by the total market value.
Step 4: Convert the market share percentage into a decimal. 25% as a decimal is 0.25.
Step 5: Multiply the decimal (0.25) by the total market value ($1,000,000).
Step 6: Calculate 0.25 x $1,000,000, which equals $250,000.
Step 7: Conclude that the company's revenue from this market is $250,000.
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