In the context of an infinitely repeated game, how does collusion depend on market transparency?

All the other answers are incorrect.

Collusion is less likely to occur in industries with less market transparency, as it is harder for firms to detect deviations.

Collusion is not affected by market transparency, as it only depends on the number of competitors (the higher the number of competitors the lower the probability of collusion).

Collusion is more likely to occur in industries with less market transparency because firms can inflict punishment to other firms easily.