Consider an n-firm Cournot oligopoly with identical firms. The best response function for firm i is q_i = 100 - 0.5Q_i where Q_i is the combined output of all firms other than firm i. It follows that, in equilibrium, q = 100 - 0.5(n - 1)q . Which of the following is true?

1), The equilibrium quantity for one firm is given by q* = 200/(n + 1).

2, With 5 firms, equilibrium quantify for the industry is about 166.67.

3, Regardless of the number of firms, industry quantity will not exceed 200.

4, All of the above.