Question: 2(0)=0.5 Given these initial state probabilities, develop a table showing the probability of each state in future periods. (Round your answers to three decimal places.)

2(0)=0.5 Given these initial state probabilities,

2(0)=0.5 Given these initial state probabilities, develop a table showing the probability of each state in future periods. (Round your answers to three decimal places.) - What are the long-run probabilities of each state? Murphy's 1= Ashley's 2= is

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