Consumers in a certain state
Consumers in a certain state choose between three long distance telephone services. GTT, NCJ, and
Dash. Aggressive marketing by all three companies results in a continual shift of customers among the
three services. Each year, GTT loses 30% of its customers to NCJ and 20% to Dash, NCJ loses 15% of its
customers to GTT and 5% to Dash, and Dash loses 5% of its customers to GTT and 30% to NCJ. Assuming
that these percentages remain valid over a long period of time, what is each company’s expected
market share in the long run?
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