A group of firms,operating in collusion,incur costs of production of $15 per unit.The price that currently maximizes their profit is $19.Knowing that potential competitors could enter the market with production costs of $17 per unit,what price are the colluders likely to charge? Why?

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The Answer of A group of firms,operating in collusion,incur costs of production of $15 per unit.The price that currently maximizes their profit is $19.Knowing that potential competitors could enter the market with production costs of $17 per unit,what price are the colluders likely to charge? Why?

A Group of Firms,operating in Collusion,incur Costs of Production of $15