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    Price Theory and Applications
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    Exam 11: Market Power,collusion,and Oligopoly
  5. Question
    The Cournot Oligopoly Model Is Based on the Assumption That
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The Cournot Oligopoly Model Is Based on the Assumption That

Question 21

Question 21

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The Cournot oligopoly model is based on the assumption that firms treat their rivals' output as fixed and given.

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