Suppose That Two Firms in a Duopoly Set Output According

Multiple Choice

Suppose that two firms in a duopoly set output according to the Cournot model.:

A) Total industry output is greater than monopoly output.
B) Total industry output is greater than output in perfect competition.
C) The duopoly price is less than the equilibrium price in perfect competition.
D) The duopoly price is greater than the monopoly price.
E) None of the above are correct.