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3. Suppose there are two products A and B competing for market share. Each month...

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3. Suppose there are two products A and B competing for market share. Each month 3% of consumers switch from using A to using B, and 5% switch from B to A. The rest stay with the one they currently use. (a) Sketch the transition diagram. (b) If A currently has a 70% market share and B has 30%, what percent will each have after 1 year? 3. Suppose there are two products A and B competing for market share. Each month 3% of consumers switch from using A to using B, and 5% switch from B to A. The rest stay with the one they currently use. (a) Sketch the transition diagram. (b) If A currently has a 70% market share and B has 30%, what percent will each have after 1 year

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