Question: Please provide explanations Use the diagrams below to answer the following questions. The diagrams below show the Cartel at the industry level and at the

Please provide explanations

Use the diagrams below to answer the following questions. The diagrams below show the Cartel at the industry level and at the firm level. Firm cartel \"50 Cl) nun... i4 Quantity Quantity a) What is the firm's equilibrium and profit/Loss at the competitive market equilibrium? b) What is the Cartel equilibrium? 7 c) If the firm has agreed to the Cartel, and is limited to producing only 2 units as part of the industry Cartel W what is the firm's total cost, total revenue, and profit? d) If the firm has entered the Cartel, but decides to maximize own profit by cheating the Cartel, what would be the firm's total cost, total revenue, and total profit

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