If We Want to Use Markov Analysis to Study Market

question 85

Multiple Choice

If we want to use Markov analysis to study market shares for competitive businesses,

• A)it is an inappropriate study.
• B)simply replace the probabilities with market shares.
• C)it can only accommodate one new business each period.
• D)only constant changes in the matrix of transition probabilities can be handled in the simple model.
• E)None of the above

---

Definitions:

General Partner

A member of a partnership who has unlimited liability for the debts of the business and participates in its management.

Limited Partner

An investor in a partnership whose liability is limited to the amount of their investment, with no direct involvement in the management of the business.

General Partners

A reworded definition: Members of a partnership who share unlimited liability for the debts and obligations of the business and actively manage its affairs.

Access

The right or opportunity to use, approach, or enter a place or service, or the act of gaining this right.