When Oligopolistic Firms Engage in Cournot Competition, the Result Is

Multiple Choice

When oligopolistic firms engage in Cournot competition, the result is

A) a higher equilibrium price but lower equilibrium quantity than occur in a monopoly.
B) a higher equilibrium price but lower equilibrium quantity than occur in perfect competition.
C) a higher equilibrium price and higher equilibrium quantity than occur in a monopoly.
D) a lower equilibrium price and lower equilibrium quantity than occur in perfect competition.
E) the same equilibrium price and equilibrium quantity as occur in a monopoly.