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Assume that Atlantic City has a single casino for gambling. Suppose that the state of New Jersey allows a second casino to enter the market.

Assume that Atlantic City has a single casino for gambling. Suppose that the state of New Jersey allows a second casino to enter the market. How would you expect the entry of the second casino to affect (a) the variety of games offered in the casinos and (b) the payout (winnings) per dollar spent? Provide specific details of each.

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