Initially, three firms a, b, and c share the market for a certain commodity. firm a has 30% of the market, firm b has 45%, and c has 25%. each year, the following changes occur:

• a keeps 75% of its customers, while losing 15% to b and 10% to c.
• b keeps 60% of its customers, while losing 5% to a and 35% to c.
• c keeps 65% of its customers, while losing 15% to a and 20% to b.

(a) what is the current market share vector (ordered for a, b, and c)?
(b) find the transition matrix for this scenario.
(c) find the share of the market that each company has after two years.

Abenefit of using a debit or credit card instead of cash is that it provides a paper record of a purchase. looking at the purchases below, which one should be made using a credit or a debit card?

Monica needs to assess the slide sequence and make quick changes to it. which view should she use in her presentation program? a. outline b. slide show c. slide sorter d. notes page e. handout

< back to assignment attempts: 1 1 keep the highest: 1 / 2 2. determining opportunity cost juanita is deciding whether to buy a suit that she wants, as well as where to buy it. three stores carry the same suit, but it is more convenient for juanita to get to some stores than others. for example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $102 for the suit: store travel time each way price of a suit (minutes) (dollars per suit) local department store 15 102 across town 30 88 neighboring city 60 65 juanita makes $42 an hour at work. she has to take time off work to purchase her suit, so each hour away from work costs her $42 in lost income. assume that returning to work takes juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. as you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. complete the following table by computing the opportunity cost of juanita's time and the total cost of shopping at each location. store opportunity cost of time price of a suit total cost (dollars) (dollars per suit) (dollars) local department store 102 across town 88 neighboring city 65 assume that juanita takes opportunity costs and the price of the suit into consideration when she shops. juanita will minimize the cost of the suit if she buys it from the . grade it now save & continue continue without saving