Question

Acme corporation currently has a 20% market share in a $15 billion industry (measured by sales revenue). emca corporation currently has a 17% market share in that same industry. what is the sales revenue for acme? (round your answer to 2 decimal places) $ 3.00 billion what is the sales revenue for emca? (round your answer to 2 decimal places) $ 2.55 billion calculate the difference (as a percentage) in market share for these two firms.

Answer 1

Industry sales = $15 billions
Acme market share = 20%
Emca market share = 17%

Acme market share in form of sales:
Acme marker share = 20% of $20 billion = (20/100)*20 = $3.00 billions

Emca market share in form of sales:
Emca market share = 17% of $20 billions = (17/100)*20 = $2.55 billions

Difference between the market shares for two companies as a percentage:
Difference = |20%-17%| = 3% of $20 billion

Answer 2

The difference in the market share for these two firms is 3%.

The market share of a firm refers to the percentage of the industry's total sales that is earned by such firm..

Given information

Industry sales = $15 billions

Acme market share = 20%

Emca market share = 17%

Sales revenue for ACME = Acme market share * Industry sales

Sales revenue for ACME = 20% * $15,000,000,000

Sales revenue for ACME = $3 billion

Sales revenue of ECMA = Ecma market share * Industry sales

Sales revenue of ECMA = 17% * $15,000,000,000

Sales revenue of ECMA = $2.55 billion

The difference between the market shares as a percentage:

= 20% - 17%

= 3% of $20 billion

Therefore, the difference in the market share for these two firms is 3% of $20 billion.

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