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4. It is clear that in a market characterized by a duopoly, both firms would be better off if they could collude and act as

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4. It is clear that in a market characterized by a duopoly, both firms would be better off if they could collude and act as a monopoly. What are the implications of this from the perspective of consumer welfare? Why is it often difficult for duopolistic firms to sustain collusion over time? What does this mean for the average consumer

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