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An economist works for a local chain of hotels in Hawaii. The company currently only has hotels on O'ahu but wants to expand to other
An economist works for a local chain of hotels in Hawaii. The company currently only has hotels on O'ahu but wants to expand to other islands as well. How might the economist explain what will happen to the price of the hotel rooms if the company adds more hotels? Is this necessarily a bad thing for the company in terms of revenue? Why or why not?
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