Question: very confused on this problem, please explain step by step 2. (10 points) Suppose a second firm enters the market described in question 1 (market

very confused on this problem, please explain step by step

2. (10 points) Suppose a second firm enters the market described in question 1 (market demand is still Q = 18 - P) with the same cost (C(Q) = 2Q2). a. If the two firms successful collude what is the equilibrium market quantity and price? b. If the two firms successfully collude what is the joint profit? c. What do we call a collusion of firms? d. Why do we not usually see successful collusion of firms

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