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### What is Cournot Model ? What are the assumptions of the model, How to calculate equilibrium With numerical ?

**Cournot model is developed by Augustin Cournot.**

**: Under this number of firms compete with each other indipendently and simultaneously**

*Theory***: All firms produce Homogenous productFirms do not collude or cooperateFirms have market power (each firms output decision affects good price)Number of firms are fixed**

*Assumptions*

*To calculate equilibrium quantity and profit*

*And reaction function for both firms .*And reaction function for both firms would be

*Thanks for reading if any problem related this article feel free to comment*.