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Q3. (1 point) Currently, your company sells only one product, Cosmos. This product has a market share of 40%. Your company is contemplating introducing a

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Q3. (1 point) Currently, your company sells only one product, Cosmos. This product has a market share of 40%. Your company is contemplating introducing a slightly inferior new offering, Cosmos- Lite, with a price of $70 and a unit cost of $50. Cosmos-Lite will target the same market. After introducing this new product, your company also intends to reduce the price of the original Cosmos product by $5 to avoid cannibalization and maintain that product's 40% market share. How much market share does your company need to have for Cosmos-Lite so that your company's total profit from sales remains unchanged after the introduction of Cosmos-Lite? Show your calculations and explain your answer. A 8% B. 4% C. 10% D. Cannot say as the answer depends on the price and unit cost of the original Cosmos product

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