Over Any Given Month, Hammond Market Loses 10% of Its

question 74

Essay

Over any given month, Hammond Market loses 10% of its customers to Otro Plaza and 20% to Tres Place.Otro Plaza loses 5% to Hammond and 10% to Tres Place.Tres Place loses 5% of its customers to each of the two competitors.At the present time, Hammond Market has 40% of the market, while the others have 30% each.
(a)Next month, what will the market shares be for the three firms?
(b)In two months, what will the market shares be for the three firms?

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Duties or commitments under the law or by agreement that an individual or entity is required to fulfill.

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A type of permanent life insurance where the insured pays a consistent premium throughout their lifetime, and the policy pays out a death benefit to the beneficiaries when the insured dies.

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The amount of money an insurance policyholder can receive from the insurer by canceling the policy before it matures or the insured event occurs.