P 50 30 10 MC MR D 0 120 240 300 Q In Lumino City, there are three electricity retailers. Electricity is a homogeneous good with a marginal cost to the retailers of $10 per megawatt hour. The three firms compete by setting prices. The demand for electricity in Lumino City is illustrated in the figure above. Use information provided to answer the following questions: i. In equilibrium, each firm will select [Select ] ii. In equilibrium the deadweight loss in the retail electricity market is [ Select iii. If one of the three electricity retailers were to exit the market, the equilibrium prices charged by the two remaining firms would [ Select) Now suppose that the three electricity retailers decide to collude. Each year, when the retailers select their electricity prices, the three firms agree to choose the monopoly price. iv. If all electricity retailers adhere to the collusive agreement, each firm will receive a producer surplus equal to (Select] each year. v. If an electricity retailer were to cheat on the agreement, the maximum producer surplus it could achieve in the year in which it cheats is (close to) [ Select] vi. As the number of firms in the market increases, the difficulty of sustaining the collusive agreement [ Select]