Suppose there are two firms that produce an identical product and compete by simultaneously choosing price. Describe how collusion and obfuscation over the price cycle can allow the firms to make positive profits. (10 points) (B) Using an Australian example, explain the incentives to form a cartel. (10 points) (C) Consider a firm offering an online streaming service with no fixed cost and a constant marginal cost. Clever econometric analysis reveals that the price charged by this firm is below its marginal cost. Is this a concern for a regulator, and what should the regulator do in response? Make sure you provide economic intuition for your answer using content studied in the unit of study.