Which one of the following statements about the Bertrand model is incorrect?
A.
The strategic variables of the game are the prices.
B.
With homogeneous product and identical constant marginal cost among the firms, the Nash equilibrium outcome is referred to as the "Bertrand paradox".
C.
The Bertrand model and its predictions differ from the Cournot model in important ways.
D.
One of the above is incorrect.