Initially, three firms a, b, and c share the market for a certain commodity. firm a has 30% of the market, firm b has 45%, and c has 25%. each year, the following changes occur:

• a keeps 75% of its customers, while losing 15% to b and 10% to c.
• b keeps 60% of its customers, while losing 5% to a and 35% to c.
• c keeps 65% of its customers, while losing 15% to a and 20% to b.

(a) what is the current market share vector (ordered for a, b, and c)?
(b) find the transition matrix for this scenario.
(c) find the share of the market that each company has after two years.

Which of the following statements is correct? a major disadvantage of a partnership relative to a corporation is the fact that federal income taxes must be paid by the partners rather than by the firm itself. in a typical partnership, liability for other partners’ misdeeds is limited to the amount of a particular partner’s investment in the business. true in a limited partnership, the limited partners have voting control, while the general partner has operating control over the business, and the limited partners are individually responsible, on a pro rata basis, for the firm’s debts in the event of bankruptcy. partnerships have more difficulty attracting large amounts of capital than corporations because of such factors as unlimited liability, the need to reorganize when a partner dies, and the illiquidity of partnership interests.