When firms in an oligopoly collude and successfully establish a cartel, what is the resulting market condition?

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Identical to the outcome under perfect competition.Optimal because collaboration enhances overall efficiency.Equivalent to the market scenario under a single monopoly.Referred to as a Nash equilibrium.

Explanation

If oligopolistic firms form a cartel through collusion, they act like a single monopolist controlling the market, resulting in an outcome similar to a monopoly rather than competitive or efficient market conditions.