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Short Answers: Provide brief answers to each of the following questions (ideally no more than three to four sentences). (a) Consider an industry where demand

Short Answers: Provide brief answers to each of the following questions (ideally no more than three to four sentences). (a) Consider an industry where demand is stochastic and firms cannot observe the prices charged by rival firms. Why is the grim trigger strategy unlikely to be optimal for firms attempting to collude in this industry

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