Identify the Truthfulness of the Following Statements

question 16

Multiple Choice

Identify the truthfulness of the following statements.
I. Cournot competitors behave less aggressively than Bertrand competitors because a Cournot firm cannot expect to "steal" customers from a rival whereas a Bertrand firm can.
II. Two firms are enough to replicate perfectly competitive outcomes in a Bertrand market, whereas a Cournot market only approaches perfectly competitive outcomes when the number of competitors becomes large.

• 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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Definitions:

DeviceNet Network

A digital, multi-drop communication network that connects and manages industrial devices, using a common industrial protocol.

HART Field Devices

Field devices that use the Highway Addressable Remote Transducer protocol, allowing digital communication over traditional 4-20mA analog wiring.

Digital Communications

The exchange of information between electronic devices through digital signals or data, as opposed to analog communications.

DeviceNet Scanner

A device that connects and communicates with various nodes on a DeviceNet network, typically in industrial automation settings.