Indicate whether the statement is true or false and explain why:

1. Unlike in Cournot competition, there is no benefit to strategic commitment (i.e., committing to a price first) in Bertrand duopoly when firms sell identical products and have identical total cost functions.
2. Student discounts are a form of price discrimination called \versioning".
3. Firms competing in Bertrand duopoly (price competition) always make zero economic profits in equilibrium.
4. Any _rm that successfully makes a strategic commitment (either soft or tough) with a strategic substitutes variable (e.g. quantity) will increase its profits by doing so.
5. In the Reputation- based Ideas Trading commercialization environment, we would expect to see significant entrepreneurial activity, as expropriation of entrepreneurs' innovations by large firms is unlikely.
6. An increase in the fixed costs of production to all firms in a perfectly competitive market will reduce their profit-maximizing output in the short run.