Suppose that General Motors (GM) , Ford(F), and Chrysler(C) each introduce a new hybrid vehicle.
a. General Motors keeps 85% of its customers but loses 10% to Ford and 5% to Chrysler
b. Ford keeps 80% of its customers but loses 10% to General motors and 10% to Chrysler
c. Chrysler keeps 60% of its customers but loses 25% to General motors and 15% to Ford
Find the distribution of the market by finding the steady state vector.