What is different about the two$$ models?

Part $5$

The Cournot and Bertrand models are different in that

Part $6$

A$.$

firms produce where price equals marginal cost under the Bertrand model and where price equals average cost under the Cournot model.

B$.$

firms set quantities under the Bertrand model and set prices under the Cournot model.

C$.$

firms earn positive economic profits under the Cournot model but earn zero profits under the Bertrand model.

D$.$

$$profit$-$maximizing output levels are smaller under the Bertrand model than the Cournot model.

E$.$

firms are inefficient under the Bertrand model and efficient under the Cournot model.