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Homework answers / question archive / Suppose there are three firms A, B, and C that shares a market for a good
Suppose there are three firms A, B, and C that shares a market for a good. Firms A and C each have 20% of the market and firm B has 60%. In the course of the year, firm A loses 5% of its share to firm B and 10% to C. Firm B loses 10% to A and 35% to C and firm C loses 10% to A and 5% to B.
Set up a matrix T that displays the changes in market shares and use this matrix to compute the new market shares.
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