Identify the Truthfulness of the Following Statements

question 50

Multiple Choice

Identify the truthfulness of the following statements.
I. Cournot firms do not attain the monopoly or collusive equilibrium.
II. The equilibrium output in a Cournot oligopoly market does not maximize industry profit.

• 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.