The Market Size for Widgets Is 75 Million Units

question 19

Multiple Choice

The market size for Widgets is 75 million units. If SPI Ltd has a market share of 38% and the average sales price is $4.50 per Widget, what is the dollar amount of sales of SPI?

• A)$128.5 million
• B)$128.3 million
• C)$122.4 million
• D)$122.5 million

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Definitions:

Nuts

Plant-derived kernels rich in fats, protein, and other nutrients, typically consumed raw or roasted.

Berries

Small, juicy fruits that are typically round, brightly colored, and sweet or sour in taste.

Utility Function

A representation of how consumer satisfaction varies with the consumption of different goods or services.

Budget Constraint

A representation of all the combinations of goods and services that a consumer can afford with their income level, given the prices of these goods and services.