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

Chapter17: Making Decisions With Uncertainty

Section: Chapter Questions

Problem 6MC

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