Cournot model of oligopoly differ from the stackelberg model

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How does the Cournot model of oligopoly differ from the Stackelberg model?

A. The Cournot model cannot be extended to include more than two firms unlike the Stackelberg model.

B. The Cournot model explains the mutual interdependence of firms in an oligopoly market unlike the Stackelberg model.

C. The equilibrium output in the Stackelberg model is relatively higher than the Cournot model.

D. The Cournot model assumes that a single firm is the market leader while the Stackelberg model assumes no single firm has a large market share.

Reference no: EM13830507

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