As a result of a recent survey of students at the University of South Wisconsin, it was determined that the university-owned bookstore currently has 40%

of the market. (See Problem 14-14.) The other three bookstores—Bill’s, College, and Battle’s—split the remaining initial market share equally. Given these initial market shares and the same state probabilities, what are the market shares for the next period? What impact do the initial market shares have on each store for the next period? What is the impact on the steady-state market shares?