Cournot and Stackelberg oligopolies are similar in that they ________.

Question

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Both Cournot and Stackelberg oligopolies compete on quantity. In Cournot, firms choose their quantity simultaneously and make production decisions based on the expected reactions of their competitors. In Stackelberg, one firm is the leader and sets its quantity first, followed by the follower firm(s) choosing their quantities based on the leader's decision. In both cases, the firms are competing on the quantity of output they will produce rather than on price.

Cournot and Stackelberg Oligopolies Are Similar in That They ________