Suppose the local hotel industry is an oligopoly dominated by two large firms (who may own multiple locations). a) Expla

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answerhappygod
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Suppose the local hotel industry is an oligopoly dominated by two large firms (who may own multiple locations). a) Expla

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Suppose the local hotel industry is an oligopoly dominated by
two large firms (who may own multiple locations).
a) Explain what it would mean for these firms to collude.
b) Explain why collusion is difficult to maintain.
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