On August 31, 2018, Barb Thoreau borrowed $ 11 comma 000 from Primary State Bank. Thoreau signed a note payable, promising to pay the bank principal plus interest on August 31, 2019. The interest rate on the note is 9%. The accounting year of Primary State Bank ends on June 30, 2019. Journalize Primary State Bank's (a) lending money on the note receivable at August 31, 2018, (b) accrual of interest at June 30, 2019, and (c) collection of principal and interest at August 31, 2019, the maturity date of the note.

Why is the cournot equilibrium an​ equilibrium? a. there are​ short-run barriers to exit in a cournot​ duopoly, so both firms cannot alter their output levels. b. given the other​ firm's level of​ production, both firms are maximizing profits and cannot improve their situation by unilaterally altering their level of output. c. both firms operate at zero profit under a cournot​ equilibrium, so they would face negative profits if they change output. d. both firms operate at minimum​ long-run average cost under a cournot​ equilibrium, so changes to output would reduce​ long-run profits. even if they​ can't collude, why​ don't firms set their outputs at the joint​ profit-maximizing levels​ (i.e., the levels they would have chosen had they​ colluded)? a. given that other firm produces at the collusive​ level, a firm could increase their own profits by increasing output above the collusive level. b. the midpoint of the collusion curve​ (i.e., the collusive​ outcome) lies below the reaction​ curves, so both firms have an incentive to increase output under the cournot duopoly. c. both a and b are correct d. both a and b are incorrect