Three fast food hamburger restaurants are competing for the college lunch crowd. Burger Bills has 40% of the market while Hungry Heifer and Salty Sams each have 30% of the market
Burger Bills loses 10 % of its customers to Hungry Heifer and 10% to Salty Sams each month. Hungry Heifer loses 5% of its customers to Burger Bills and 10% to Salty Sams each month. Salty Sams loses 10% of its customers to Burger Bills while 20% go to Hungry Heifer. What will the market shares be for the three businesses next month?
Burger Bills 36.5%
Hungry Heifer 35.5%
Salty Sams 28%
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