Use a diagram to show the consumer surplus producer, Business Economics

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Use a diagram to show the consumer surplus producer

i) Use a diagram to show the consumer surplus , producer surplus and total surplus of the market for groceries in this small town

ii) Now suppose these small supermarkets successfully form a cartel which behaves like a monopoly, How does this cartel affect the economic welfare of this small town? Explain with a diagram

b) Collusion among oligopolists is difficult because of self interest. Under what condition can oligopolists successfully cooperate?

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Business Economics: Use a diagram to show the consumer surplus producer

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Business Economics: Use a diagram to show the consumer surplus producer

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