In a Cournot duopoly, the Cournot conjecture is an assumption that, no matter what change in price a firm makes, the other firm will not change its own output choice in response.

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In a Cournot duopoly, the Cournot conjecture is the assumption that each firm assumes the output of its competitor is fixed when it makes its own output decision, not that changes in price will not lead to changes in the competitor's output.

In a Cournot Duopoly, the Cournot Conjecture Is an Assumption