the leading peanut butter manufacturer made $1.4 billion worth of revenue on peanut butter this year. the…

the leading peanut butter manufacturer made $1.4 billion worth of revenue on peanut butter this year. the total market for peanut butter is $3 billion. what is the manufacturers market share? ?% round to the nearest tenth of a percent.

the leading peanut butter manufacturer made $1.4 billion worth of revenue on peanut butter this year. the total market for peanut butter is $3 billion. what is the manufacturers market share? ?% round to the nearest tenth of a percent.

Answer

Explanation:

Step1: Recall market - share formula

Market share = $\frac{\text{Company's revenue}}{\text{Total market revenue}}\times100%$

Step2: Substitute given values

The company's revenue is $1.4$ billion and the total market revenue is $3$ billion. So, Market share = $\frac{1.4}{3}\times100%$

Step3: Calculate the value

$\frac{1.4}{3}\times100%=\frac{140}{3}% \approx 46.7%$

Answer:

$46.7$