Which of the following statements best describes market share?
a) It is the sum of the sales revenues of the different products of a firm across their respective markets.
b) It is the difference between a firm's total cost and total revenue.
c) It is the ratio of a firm's profits to the total cost of production.
d) It is the sum of the total cost of production and the sales revenue of all the products of a firm.
e) It is the ratio of a firm's sales revenues or unit sales to those of the industry.
Answer: E
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