According to the Cournot Model

Multiple Choice

According to the Cournot model:

A) As the number of equally-sized firms producing a homogeneous product increases, the output of each individual firm declines.
B) As the number of equally-sized firms producing a homogeneous product increases, industry output declines.
C) As the number of equally-sized firms producing a homogeneous product increases, the market price of the product approaches the marginal cost of
production.
D) All of the above are correct.
E) None of the above are correct.