Question: PLEASE USE MARKOV ANALYSIS TO ANSWER THE QUESTION. 2. Over any given month, Dress-Rite loses 10% of its customers to Fashion, Inc., and 20% of

PLEASE USE MARKOV ANALYSIS TO ANSWER THE QUESTION.

PLEASE USE MARKOV ANALYSIS TO ANSWER THE

2. Over any given month, Dress-Rite loses 10% of its customers to Fashion, Inc., and 20% of its market to Luxury Living. But Fashion, Inc., loses 5% of its market to Dress-Rite and 10% of its market to Luxury Living each month; and Luxury Living loses 5% of its market to Fashion, Inc., and 5% of its market to Dress-Rite. At the present time, each of these clothing stores has an equal share of the market. What do you think the market shares will be next month? What will they be in three months

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