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)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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