Which of the Following Statements Are Applicable to the Cournot

Multiple Choice

Which of the following statements are applicable to the Cournot model?
(i) Firms choose price simultaneously.
(ii) Industry profits in the Cournot model will be less than under a monopoly or a cartel.
(iii) Profits in the Cournot model will be higher than under perfect competition.
(iv) Nash equilibrium in the model occurs where the outputs chosen by each firm are consistent with each other.
(v) Firms choose price and output in response to output set by rivals.
(vi) Firms will only be able to make normal profits in the short- run equilibrium.

A) (ii) , (iii) , (iv) and (v)
B) (i) , (iv) and (v)
C) (i) , (iv) , (v) and (vi)
D) (ii) , (iv) , (v) and (vi)
E) (ii) , (iii) and (vi)