Answer:
$7,500 million
Step-by-step explanation:
Given the data provided below:
Number of pairs of shoes = 3
Number of consumers in the economy for this = 50 million
Purchase value of each pair of shoes = $50
So, the total market potential for shoes is
= Number of pairs of shoes × Number of consumers in the economy for this × Purchase value of each pair of shoes
= 3 × 50 million × $50
= $7,500 million