What type of market do you think Hilton Hotels franchise operates (perfectly competitive, monopoly, monopolistically competitive, oligopoly)? What are the specific characteristics that make it this type of firm? Support your answers with economic thinking

  1. What type of competition does Hilton Hotels face? Who are some of the competitors? (Even if Hilton were a monopoly, think of some substitutes) How do you think Hilton Hotels can increase in market power?
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