The output of firms is determined simultaneously in _____ competition but sequentially in _____ competition.

Name: The output of firms is determined simultaneously in _____ competition but sequentially in _____ competition.
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Question

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In Cournot competition, firms decide their output levels simultaneously, not knowing the decisions of the other firms. In Stackelberg competition, one firm sets its output level first, and then the other firms follow, making it a sequential decision process.

The Output of Firms Is Determined Simultaneously in _____ Competition