How does collusion make firms better off (select one)?

a. the firms can act as a single entity, like a monopoly.
b. the firms can charge lower prices and sell a smaller quantity and still increase profits.
c. the firms can charge lower prices, but sell a greater quantity and thus earn higher revenues.
d. both a and b.
e. both a and c.

The correct answer is C

Explanation:

Collusion happens when the rival firms or the business agreed to work together in the market. It is a way or method for the firms in order to earn high profits by reducing or decreasing the competitiveness of the market.

So, the collusion make the firms better off when the firms charge lower prices from the customer and sell larger quantity and able to earn high profits.

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.