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Levon sells cartoon balloons in town. His family business thrives. Levon's balloons are priced at $8.00 each and sells 350 balloons each month. His largest competitor, Paul, sells 874 balloons each month at a price of $3.00 each. Levon estimates the total balloon market in town to be 2000 per month at an average price of $5.00 per balloon. What is Levon's relative market share based on units

Respuesta :

The market share of Levon is 28%

Market Share of Levon

Total revenue of Levon is calculated:

$8 * 350 balloons = $2,800 per month

Total Revenue of the market:

$5 * 2000 balloons = $10,000 per month

Dividing Total Revenue of Levon with Total Revenue of the market

$2,800 / $ 10,000 = 0.28

Convert into percentage by multiplying with 100

0.28 * 100 = 28%

Conclusion

The market share of Levon is 28%

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