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Market sizes for a luxury good in the two countries

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The GDP of United States is $20 Trillion, and India's is 3 Trillion. India's GDP is composed of 60 percent consumer spending, and the US' GDP is composed of 70 percent consumer spending. If 20 percent of consumer spending goes to luxuries, what are the market sizes for a luxury good in the two countries? Please show your arithmetic

Reference no: EM132916685

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