# MARKET SHARE OF BOOKSTORES At a certain university, three bookstores-the University Bookstore, the Campus Bookstore, and the Book Mart-currently serve the university community. A survey conducted at the beg inning of the fall quarter found that the University Bookstore and the Campus Bookstore each had 40 % of the market, whereas the Book Mart had 20 % of the market. Each quarter, the University Bookstore retains 80 % of its customers but loses 10 % to the Campus Bookstore and 10 % to the Book Mart. The Campus Bookstore retains 75 % of its customers but loses 10 % to the University Bookstore and 15 % to the Book Mart. The Book Mart retains 90 % of its customers but loses 5 % to the University Bookstore and 5 % to the Campus Bookstore. If these trends continue, what percentage of the market will each store have at the beginning of the second quarter? The third quarter?

### Finite Mathematics for the Manager...

12th Edition
Soo T. Tan
Publisher: Cengage Learning
ISBN: 9781337405782

### Finite Mathematics for the Manager...

12th Edition
Soo T. Tan
Publisher: Cengage Learning
ISBN: 9781337405782

#### Solutions

Chapter 9.1, Problem 25E
Textbook Problem

## Expert Solution

### Want to see the full answer?

Check out a sample textbook solution.

### Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times vary by subject and question complexity. Median response time is 34 minutes and may be longer for new subjects.