Sprint and Verizon have had total dominance of the wireless communications market. They have settled into...

  

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Sprint and Verizon have had total dominance of the wireless communications market. They have settled into a pattern where Verizon has four times the market share of Sprint. However, there is a new entrant, Boost Mobile, that has entered the market this year. Along with this entrant, there is a renewed adverting and promotional blitz by all the firms in the market. The resulting switching matrix is as follows: Verizon Sprint Boost Verizon 0.7 0.2 0.1 From Sprint 0.1 0.6 0.3 Boost 0.3 0.2 0.5 1) What is Boost Mobile's Market Share three years from the current period? Sprint and Verizon have had total dominance of the wireless communications market. They have settled into a pattern where Verizon has four times the market share of Sprint. However, there is a new entrant, Boost Mobile, that has entered the market this year. Along with this entrant, there is a renewed adverting and promotional blitz by all the firms in the market. The resulting switching matrix is as follows: Verizon Sprint Boost Verizon 0.7 0.2 0.1 From Sprint 0.1 0.6 0.3 Boost 0.3 0.2 0.5 1) What is Boost Mobile's Market Share three years from the current period?