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I don't know what to do, I'm not sure of how I can find the cartel or the competitive outcomes. I'm just really confused, if

I don't know what to do, I'm not sure of how I can find the cartel or the competitive outcomes. I'm just really confused, if someone could explain and solve this I would really appreciate it.

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Homework (Ch 5. Cartel versus competitive outcome A few rival firms provide long-distance bus services in the United States. Because the firms must have the appropriate technology, equipment, stations, bus drivers, and customer service to maintain their businesses, there are economies of scale. The market for bus travel is best characterized as an oligopoly The following graph shows the market demand conditions and long-run costs of production for individual firms in the market for bus travel. Assume all bus companies produce an identical product and face identical cost curves. Suppose all bus companies successfully coordinate supply decisions to maximize profit as a cartel. Place the green point (triangle symbol) on the graph to indicate the quantity of tickets per year the cartel will supply and the price it will charge. Dashed drop lines will automatically extend to both axes. ? 200 180 Cartel Outcome PRICE (Dollars perticket) 120 Competitive Outcome 80 40 LRATC MR Demand 200 400 600 800 1000 QUANTITY (Thousands of tickets per year) Now suppose that some cartel members their prices in order to increase market share. Use the purple point (diamond symbol) to indicate the price and quantity that will prevail in the long run if all firms in the oligopoly compete with one another

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