Suppose the larger firm of a duopoly has sales of $400 million and the smaller firm has sales of $100 million. the market share of the larger firm is 80 percent.
Describe market share?
- What portion of a customer's overall purchases of a good or service goes to a firm determines its market share.
- In other words, if 100 soaps are purchased by customers as a whole, and 40 of those soaps come from a single firm, that company has a 40% market share.
- Market share is the portion of a company's business that represents the entire revenue or sales in a market.
- Market share is the percentage of a company's industry's total revenues that it generates.
- The company's sales for the time period are divided by the total sales for the sector for that time period to determine market share.
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