Compare total profits and the total output in the Cournot equilibrium to a monopolist’s profit-maximising choices (assuming the same demand, zero fixed costs and the same constant marginal costs).  In Cournot equilibrium,  total output is       [higher , lower , stay the same]  total profits are       [higher, lower, stay the same]

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Chapter8: Monopoly
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Compare total profits and the total output in the Cournot equilibrium to a monopolist’s profit-maximising choices (assuming the same demand, zero fixed costs and the same constant marginal costs).  In Cournot equilibrium, 

  • total output is       [higher , lower , stay the same] 
  • total profits are       [higher, lower, stay the same]  
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