Figure 12.2.1 -In Comparing the Cournot Equilibrium with the Competitive Equilibrium

question 69

Multiple Choice

Figure 12.2.1
-In comparing the Cournot equilibrium with the competitive equilibrium,

• A) both profit and output level are higher in Cournot.
• B) both profit and output level are higher in the competitive equilibrium.
• C) profit is higher, and output level is lower in the competitive equilibrium.
• D) profit is higher, and output level is lower in Cournot.