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Cournot Competition : Suppose that you are the manager, and you set the price to maximize the hotel's profit. 1. The marginal cost of each

Cournot Competition: Suppose that you are the manager, and you set the price to maximize the hotel's profit.

1. The marginal cost of each hotel room = 500 RMB

2. The largest valuation on the hotel room = 2000 RMB valuation decreased by 100RMS. In total, there are 20 families.

Discuss how many rooms you will offer in the market.

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