Please answer the following questions, Thanks!!!

Question 10 3 pts Other things being equal, the Bertrand duopoly model with homogeneous product suggests that profit-maximizing firms in an oligopolistic industry: I. Charge a higher price than monopolies. II. Charge a higher price than perfectly-competitive firms. Ill. Charge a lower price than monopolies. IV. Charge the same price as perfectly-competitive firms. Which of the following is correct? O II and Ill only. O I only. O I and II only. O Ill and IV only. Question 11 3 pts Two firms, 1 and 2, compete in Cournot. The demand is P=180-8Q and the marginal cost of both firms is MC=20. Which of the following is true? The best response of firm 1 is q1=10+q2/2 The best response of firm 1 is q1=10-q2/2. The best response of firm 1 is p1=10+p2/2. The best response of firm 1 is p1=10-p2/2. Question 12 3 pts The consumer surplus is The additional cost for producing one additional unit of the product. The difference between the marginal revenue and the price of the product. The additional revenue of the firm when they sell one additional unit of the product. The difference between the price of the product and the willingness to pay of the consumers.Question 13 3 pts Suppose there are two rms, rm 1 and rm 2. Suppose they are doing price competition.[i.e., Bertrand competition] Assume that their goods are homogeneous and they have the same cost function C(q) = 10CI- If the rm 1 chooses her price as p1 = 11, what is the rm 2's best response to the rm 1's price choice? 0 set price p2 = 11. 0 set price p2 which is slightly smaller than p1 = 11 but is larger than marginal cost. 0 set quantity q2 = 9. 0 set price p2 = 11.5 Question 14 3 pts Which of the following statement is correct for monopoly's market power? 0 None of the above 0 Market power is the same regardless of the demand 0 The more inelastic of the demand, the smaller the market power. 0 The more inelastic of the demand, the bigger the market power. Question 15 3 pts Which statement is correct for the market power of Cournot competition 0 The market power depends on the elasticity of the demand. The number of rms doesn't affect the market power. 0 The more rms in the market, the bigger market power. 0 The more rms in the market, the smaller market power 0 The more inelastic of the demand, the smaller the market power