Competition, Monopolies, and cartels o The duopolists may agree on a monopoly outcome ● Collusion The two firms may agree on the quantity to produce and the price to charge Cartel The two firms may join together and act in unisonCompetition, Monopolies, and Cartels • The duopolists may agree on a monopoly outcome. • Collusion – The two firms may agree on the quantity to produce and the price to charge. • Cartel – The two firms may join together and act in unison