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A new phone model is expected to sell 200,000 units in its first year. If the pr

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Question: A new phone model is expected to sell 200,000 units in its first year. If the price is set at $700, what is the expected revenue?

Options:

  1. $140 million
  2. $150 million
  3. $160 million
  4. $170 million

Correct Answer: $140 million

Solution: 

Expected revenue = Number of units * Price per unit = 200,000 * 700 = $140 million.

A new phone model is expected to sell 200,000 units in its first year. If the pr

Practice Questions

Q1
A new phone model is expected to sell 200,000 units in its first year. If the price is set at $700, what is the expected revenue?
  1. $140 million
  2. $150 million
  3. $160 million
  4. $170 million

Questions & Step-by-Step Solutions

A new phone model is expected to sell 200,000 units in its first year. If the price is set at $700, what is the expected revenue?
  • Step 1: Identify the number of units expected to be sold, which is 200,000.
  • Step 2: Identify the price per unit, which is $700.
  • Step 3: Multiply the number of units (200,000) by the price per unit ($700) to find the expected revenue.
  • Step 4: Calculate 200,000 * 700, which equals $140,000,000.
  • Step 5: Convert $140,000,000 to millions, which is $140 million.
  • Revenue Calculation – The process of determining total income generated from sales by multiplying the number of units sold by the price per unit.
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