According to the Cournot Model, If Two Firms in the Industry

Multiple Choice

According to the Cournot model, if two firms in the industry face identical demands for their product:

A) Both firms will end up with an equal share of total industry output.
B) The first firm to enter the industry will end up producing 2/3 of industry output while the second firm will end up producing 1/3 of industry output.
C) The first firm to enter the industry will end up producing 1/3 of industry output while the second firm will end up producing 2/3 of industry output.
D) The first firm to enter the industry will end up producing 3/8 of industry output while the second firm will end up producing 1/4 of industry output.