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Suppose that ​% of people who own a car from the only car dealership in a small town will buy their next car from the same dealership and ​% of people who own a car from an​ out-of-town dealership will buy their next car from a dealership​ out-of-town. What will the market share of the local dealership be in the long run. In the long​ run, the market share of the local dealership is

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francocanacari

In the long run, the market share of the local dealership is going down, as long as the percentage of sales is lower than that of the out of town dealership. On the contrary, its market share will grow if its percentage of sales is higher.

Market share is the share that a supplier of a good or service has in the total turnover on the relevant market in a certain period. If one supplier controls the entire market, it is called a monopoly. When a few providers collectively dominate the market, we speak of an oligopoly.

Learn more in https://brainly.com/question/7920685

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