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Your company, Illuminations, makes a line of eco-friendly, odorless, and dripless tapers (long, narrow, cylindrical candles) that are marketed through a variety of retail outlets
- Your company, Illuminations, makes a line of eco-friendly, odorless, and dripless tapers (long, narrow, cylindrical candles) that are marketed through a variety of retail outlets in the northeastern part of the U.S. Based on industry data, there are approximately 979,000 buyers of tapers in this area, each of whom uses an average of ten candles per year with most of the usage during the winter holidays. Your candles are sold in a six-pack for a premium price of $18.00 per box. The average price for regular tapers is $2.00 per candle. (15 points)
- What is the total size of the New England taper market in dollars (assuming the average price)?
- If your company has a 3% share of the northeast taper market, what are your annual sales in dollars?
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