Andy Lange, president of the University of South Wisconsin, is concerned with the declining business at the

Question:

Andy Lange, president of the University of South Wisconsin, is concerned with the declining business at the University Book Store. (See Problem 14-14 for details.) The students tell him that the prices are simply too high. Andy, however, has decided not to lower the prices. If the same conditions exist, what long-run market shares can Andy expect for the four bookstores?

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