Find all absorbing states for the transition matrix, and indicate whether or not the matrix is that of an absorbing Markov chain.
A. No absorbing states; the matrix is not that of an absorbing Markov chain.
B. State 3 is absorbing; the matrix is that of an absorbing Markov chain.
C. State 1 is absorbing; the matrix is that of an absorbing Markov chain.
D. State 3 is absorbing; the matrix is not that of an absorbing Markov chain.
Answer: B
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A. Converges; 
- 1
B. Converges; 1 - 
C. Converges; 
+ 1
D. Diverges
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Fill in the blank(s) with the appropriate word(s).
Solve the system by Gauss-Jordan elimination.
?
?
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Find the marginal average profit function.
A. 
hundreds of dollars per item
B. 
hundreds of dollars per item
C. 
hundreds of dollars per item
D. 
hundreds of dollars per item