Does the timing of play change the Nash equilibrium

· Consider the Bertrand game. Does the timing of play change the Nash equilibrium? In other words, does it matter if the game is played simultaneously or sequentially? Explain your answer using no more than half a page.

· Consider the Cournot game. Suppose we relax the assumption that the firms are identical by assuming that one of them has a larger capacity. How does this change the outcome of the Cournot game? Briefly discuss in half a page or less. Do not address the Nash equilibrium for this question, just the outcome (i.e., payoffs).