In the simplest version of the Cournot model, we assume A) the ...

[WWatsford]

In the simplest version of the Cournot model, we assume
 
  A) the firms set price independently and simultaneously.
  B) the firms set price independently and sequentially.
  C) that the firms have identical costs.
  D) the firms are in a Nash equilibrium.

Question 2

What is one reason patents are required?
 
  A) Information concerning innovation is private and secure.
  B) Human nature is corrupt.
  C) Information concerning innovation is generally not private and secure.
  D) The patent only makes things better in the short-run.

[jasonq]

Answer to Question 1

C

Answer to Question 2

C

[WWatsford]

Thanks for the timely response, appreciate it

[TheDev123]

YES! Correct, THANKS for helping me on my review