Refer to the News Wire to answer one question. NEWS WIRE: LEGAL BARRIERS Big Legal Bills...

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Refer to the News Wire to answer one question. NEWS WIRE: LEGAL BARRIERS Big Legal Bills for Little Golf Balls To the average golfer, most golf balls look strikingly alike. But Acushnet Holdings Corporation says its Titleist ball is the "number one ball in golf," better than all others. To keep it that way, Acushnet has obtained 11 patents on the design of its Titleist balls. When retail giant Costco started selling its own Kirkland balls in 2016, Acushnet felt threatened. Costco was selling its golf balls for $1.25 apiece, while the Titleist ProV1 balls were $4 apiece, and reviewers found them to be comparable. Acushnet promptly sued Costco, claiming it had infringed on Titleist's design patents. Costco stopped selling the Kirkland balls. Previously, Acushnet had sued another 10 golf-ball manufacturers, most of whom ceased production rather than fight in court. Dean Snell, a former Titleist ball designer, said the purpose of all the patents isn't merely to protect ball designs, but also to prevent competitors from innovating new designs. Source: News accounts of March 2017. Suppose Titleist sells 18 million golf balls a year. If it has to sell them at Costco's price rather than the ProV1 price, how much less revenue would Titleist take in? Instructions: Round your response to two decimal places. million Refer to the News Wire to answer one question. NEWS WIRE: LEGAL BARRIERS Big Legal Bills for Little Golf Balls To the average golfer, most golf balls look strikingly alike. But Acushnet Holdings Corporation says its Titleist ball is the "number one ball in golf," better than all others. To keep it that way, Acushnet has obtained 11 patents on the design of its Titleist balls. When retail giant Costco started selling its own Kirkland balls in 2016, Acushnet felt threatened. Costco was selling its golf balls for $1.25 apiece, while the Titleist ProV1 balls were $4 apiece, and reviewers found them to be comparable. Acushnet promptly sued Costco, claiming it had infringed on Titleist's design patents. Costco stopped selling the Kirkland balls. Previously, Acushnet had sued another 10 golf-ball manufacturers, most of whom ceased production rather than fight in court. Dean Snell, a former Titleist ball designer, said the purpose of all the patents isn't merely to protect ball designs, but also to prevent competitors from innovating new designs. Source: News accounts of March 2017. Suppose Titleist sells 18 million golf balls a year. If it has to sell them at Costco's price rather than the ProV1 price, how much less revenue would Titleist take in? Instructions: Round your response to two decimal places. million

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Revenue Loss if Titleist Sells at Costcos Price Step 1 Calculate the price differen... View the full answer