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(Scenario: Monopolistic Competition in the Hotel Industry) Use Scenario: Monopolistic Competition in the Hotel Industry. Given the information in the scenario, what is the profit-maximizing

(Scenario: Monopolistic Competition in the Hotel Industry) Use Scenario: Monopolistic Competition in the Hotel Industry. Given the information in the scenario, what is the profit-maximizing price for this firm in the short run? Scenario: Monopolistic Competition in the Hotel Industry For a monopolistically competitive firm operating in the hotel industry, the demand curve is given by Q = 160 - P, and the firm's cost functions are MC = 20 2Q and TC = 20Q Q2 20

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