1. Complete the table below with the characteristics of an oligopoly

Characteristic Barriers to entry Profits Number of firms Products Demand curve faced by one firm in the market\fMC 4 ATC 3 2 MR 0 D 10 20 Q Profit-maximizing level of output Allocationly efficient level of output Productively efficient level of output Price set by an oligopolistic firmLutherCo Hartwell Market Collusive 30 30 60 quantity Collusive 65 65 65 price Collusive profits Cheating 40 30 70 quantity Cheating 55 55 55 price Cheating profits Difference in profitsOne-Year Profits Other colludes Other cheats You collude You cheat Five-Year Profits Other colludes Other cheats You collude in year 1 You cheat in year 1