Relative to the Nash Equilibrium in the Cournot Model, the Nash

question 57

Multiple Choice

Relative to the Nash equilibrium in the Cournot model, the Nash equilibrium in the Bertrand model with homogeneous products

• A) results in the same output but a higher price.
• B) results in the same output but a lower price.
• C) results in a larger output at a lower price.
• D) results in a smaller output at a higher price.
• E) any of the above may result.