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  • 1 Post By skipjack
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March 8th, 2018, 12:13 AM   #1
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Systems of Linear Equations

Hi all, need help in this. I am so confused.

Suppose that in a fixed population of food consumers, there are just three brands X Y Z that share the market. Suppose that each year,
10% of brand X buyers shift to brand Y and 20% to brand Z and
20% of brand Y buyers shift to brand X and 20% to brand Z
10% of brand Z buyers shift to brand X and none to brand Y
Suppose that it is found that despite all this shifting, the market shares of these brands are nevertheless unchanged, what are these market shares?


Last edited by skipjack; March 8th, 2018 at 01:09 AM.
speedzone is offline  
March 8th, 2018, 01:53 AM   #2
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You need to assume that each consumer uses just one brand at a time.

During each year, for every 5 consumers of brand Y, 1 moves to Brand X and 1 moves to brand Z, so there must have been 20 consumers of brand X originally, 2 of which shift to brand Y.

I'll leave you to show by similar means that the corresponding number of consumers of brand Z was 50.

Hence brand Z has 2/3 of the market, brand X has 4/15 of the market, and brand Y has the remaining 1/15 of the market.
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