At equilibrium,
A)state probabilities for the next period equal the state probabilities for this period.
B)the state probabilities are all equal to each other.
C)the matrix of transition probabilities is symmetrical.
D)the vector of state probabilities is symmetrical.
E)the fundamental matrix is the same as the matrix of transition probabilities.

Question

Quizplus · Accepted Answer

At equilibrium, the state probabilities for the next period equal the state probabilities for this period. This means that the system has stabilized and is no longer changing in a predictable way.

At Equilibrium