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Tutor help on below question: 1. Using Game Theory: (a) illustrate the market equilibrium for recycled cardboard packaging before the cartel formation. (b) explain why

Tutor help on below question:

1. Using Game Theory:

(a) illustrate the market equilibrium for recycled cardboard packaging before the cartel formation.

(b) explain why the companies formed a cartel and the impact of this on the market for recycled cardboard packaging using your diagram from part (a).

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