Consumers in a certain state can choose between three long-distance telephone services: GTT, NCJ. and Dash. Aggressive marketing by all three companies results in continual shit of customers among the three services. Each year, GTT loses 5% of its customers to NCJ and 15% to Dash, NCJ loses 30% of its customers to GTT and 20% to Dash, and Dash loses 20% of its customers to GTT and 10% to NCJ. Assuming that these percentages remain valid over a long period of time, what is each company's expected market share in the long run? GTTs expected market share is (Round to the nearest tenth as needed)
Consumers in a certain state can choose between three long-distance telephone services: GTT, NCJ. and Dash. Aggressive marketing by all three companies results in continual shit of customers among the three services. Each year, GTT loses 5% of its customers to NCJ and 15% to Dash, NCJ loses 30% of its customers to GTT and 20% to Dash, and Dash loses 20% of its customers to GTT and 10% to NCJ. Assuming that these percentages remain valid over a long period of time, what is each company's expected market share in the long run? GTTs expected market share is (Round to the nearest tenth as needed)
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter15: Strategic Games
Section: Chapter Questions
Problem 5MC
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