An oligopoly model in which sellers compete on quantities rather than prices is called the ________ model.

Question

Quizplus · Accepted Answer

The Cournot model is an oligopoly model in which sellers compete on quantities, named after the French economist Augustin Cournot. In this model, each seller chooses a quantity to produce, taking the output of the other sellers as given, and then the market price is determined by the aggregate supply and demand.

An Oligopoly Model in Which Sellers Compete on Quantities Rather