Consider the situation where oligopolists collude in a market to maximise their potential profit. Suppose the following chart shows the cost/revenue structure the oligopolists in this market face. P($) 15- 14- 13- 12- 11- MR. MC 100 200 300 400 500 ATC D Q (a) Identify the profit maximising price and output level for this oligopoly. Calculate the profit or loss that is being made in this market. (4 marks) (b) Is the profit or loss you calculated in Part (a) sustainable in the long run? Briefly explain why or why not. (3 marks) (c) Briefly compare an oligopoly market structure with that of monopoly. Does the monopolist face different cost/revenue curves to those shown in the chart, or are they the same? (3 marks)