Using a graph,show the equilibrium price and output for a perfectly competitive firm.If all the firms in the industry colluded to increase their profits,how would the equilibrium change for each firm? Assume that each firm produces an equal share of the industry output.

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The Answer of Using a graph,show the equilibrium price and output for a perfectly competitive firm.If all the firms in the industry colluded to increase their profits,how would the equilibrium change for each firm? Assume that each firm produces an equal share of the industry output.

Using a Graph,show the Equilibrium Price and Output for a Perfectly