PLEASE ANSWER THE QUESTION LISTED. Beta and Gamma produce vitamin A at a constant average cost of $5 per unit. Assume that low-price guarantees are Here are the possible outcomes: Price fixing (cartel). Each firm sells 30 units at a price of $20 per unit. Duopoly (no price fixing). Each firm sells 40 units at a price of $12 per Underpricing (one firm charges $20 and the other charges $12). The low-price firm sells 70 units and the high-price firm sells 5 Suppose the firms agree to pick the high Once Beta picks the high price, how much more could Gamma earn if it cheated on the price- fixing agreement? What will be the outcome who will be picked and why?

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