Examlex
In a study of the domestic market share of the three major automobile manufacturers ,
, and
in a certain country, it was found that of the customers who bought a car manufactured by
, 70% would again buy a car manufactured by
, 10% would buy a car manufactured by
, and 20% would buy a car manufactured by
. Of the customers who bought a car manufactured by
, 80% would again buy a car manufactured by
, whereas 10% each would buy cars manufactured by
and
, respectively. Finally, of the customers who bought a car manufactured by
, 75% would again buy a car manufactured by
, 5% would buy a car manufactured by
, and 20% would buy a car manufactured by
. Assuming that these sentiments reflect the buying habits of customers in the future model years, determine the market share that will be held by each manufacturer in the long run.
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An economic policy that allows goods and services to be exchanged across international borders with little to no government tariffs, quotas, subsidies, or prohibitions to inhibit their exchange.
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The global network of economic activities and interactions among countries, involving trade, investment, finance, and labor, which influence the economic policies and conditions worldwide.
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