market survey is made on two brands of breakfast foods A and B. Every time a customer purchases, he may buy the same brand or switch to another brand. The transition matrix is given below:

At present, it is estimated that 60 per cent of the people buy brand A and 40 per cent buy brand B. Determine the market shares of brand A and brand Bin the steady state.

Transcribed Image Text:

To From A B A 0.8 0.2 B 0.6 0.4