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Mathematics, 10.04.2020 21:32 ctyrector
Initially, three rms A, B, and C share the market for a certain commodity. Firm A has 20% of the market, Firm B has 60%, and C has 20%. In the course of the next year, the following changes occur: A keeps 85% of its costumers, while losing 5% to B and 10% to C. B keeps 55% of its customers, while losing 10% to A and 35% to C. C keeps 85% of its customers, while losing 10% to A and 5% to B. Write the transition matrix and using matrix multiplication nd the market share (how many customers) of each company after one year.
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Initially, three rms A, B, and C share the market for a certain commodity. Firm A has 20% of the mar...
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