The market size for Loppins is 50 million units. If SPI Ltd has a market share of 30% and the average sales price is $4 per Loppin, what is the dollar amount of sales of SPI?
A)$62 million
B)$58 million
C)$52 million
D)$60 million

Question

Quizplus · Accepted Answer

Market size = 50 million units
SPI's market share = 30%
Units sold by SPI = 30% of 50 million = 15 million units
Average sales price = $4
Total sales revenue for SPI = Units sold by SPI x average sales price = 15 million x $4 = $60 million.

Therefore, the answer is D) $60 million.

The Market Size for Loppins Is 50 Million Units