in the year 2010, the luxury bike industry had two bike manufactures splendor and passion with the market shares of 30% and 70%,
respect. in 2011 the overall market for the product increased by 20% and a new player yahma also entered and cpatures the 10% of the market share.
1 answer:
Answer: 50%
Step-by-step explanation:
In 2010, there were only 2 bike manufacturers and they had market shares of 30% and 70%.
A new manufacturer joins the market and captures 10% of the market share and Splendor increases to 40% of market share.
Market shares:
Yamaha = 10%
Splendor = 40%
Passion = 100% - 10% - 40%
= 50%
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