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The Cournot theory of oligopoly assumes that ___________________. a.each firm chooses its output, taking as given the output of its rivals b.rival firms select their
The Cournot theory of oligopoly assumes that ___________________.
a.each firm chooses its output, taking as given the output of its rivals
b.rival firms select their output simultaneously and jointly
c.rivals will increase their output whenever a firm increases its output
d.rivals will decrease their output whenever a firm increases itsoutput
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