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An Introduction to Management Science 13th Edition by David Anderson,Dennis Sweeney ,Thomas Williams ,Jeffrey Camm, Kipp Martin
Edition 13ISBN: 978-1439043271An Introduction to Management Science 13th Edition by David Anderson,Dennis Sweeney ,Thomas Williams ,Jeffrey Camm, Kipp Martin
Edition 13ISBN: 978-1439043271 Exercise 9
Suppose that in Problem 8 a new toothpaste brand enters the market such that the following transition probabilities exist: 
What are the new long-run market shares? Which brand will suffer most from the introduction of the new brand of toothpaste?
What are the new long-run market shares? Which brand will suffer most from the introduction of the new brand of toothpaste?
Explanation
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Markov Process:
Markov process models a...
An Introduction to Management Science 13th Edition by David Anderson,Dennis Sweeney ,Thomas Williams ,Jeffrey Camm, Kipp Martin
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