$14-24$ Set up both the vector of state probabilities and the

matrix of transition probabilities given the following

information:

$$ Store $1$ currently has $40\%$ of the market; store $2$

currently has $60\%$ of the market.

$$ In each period, store $1$ customers have an $80\%$

chance of returning and a $20\%$ chance of switching

to store $2.$

$$ In each period, store $2$ customers have a $90\%$

chance of returning and a $10\%$ chance of switching

to store $1.$

$14-25$ Find p$122$ for Problem $14-24.$

$14-26$ Find the equilibrium conditions for Problem $14-24.$

Explain what it means.