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

Name: The Cournot oligopoly model is based on the assumption that firms treat their rivals' output as fixed and given.
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In the Cournot oligopoly model, each firm assumes that its competitors' output levels remain constant and do not respond to changes in its own output or pricing decisions. This assumption is known as the "mutual interdependence" of firms in the market.

The Cournot Oligopoly Model Is Based on the Assumption That