(a) Three telephone companies A, B, and C compete for customers. Each year A loses 5%...
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(a) Three telephone companies A, B, and C compete for customers. Each year A loses 5% of its customers to B and 20% to C; B loses 15% of its customers to A and 20% to C; C loses 5% of its customers to A and 10% to B.
(a) Write the transition matrix for the model.
(b) What is the limiting market share for each of these companies?
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b 02321 01964 05714 a 75 05 20 ...View the full answer
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