Identify the Truthfulness of the Following Statements

question 18

Multiple Choice

Identify the truthfulness of the following statements.
I. As the number of firms in an industry exhibiting Cournot competition increases, the greater the Cournot equilibrium diverges from the collusive outcome.
II. As the number of firms in an industry exhibiting Cournot competition increases, the market price increases.

• A) Both I and II are true.
• B) Both I and II are false.
• C) I is true; II is false.
• D) I is false; II is true.

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