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EC311 · Intermediate Microeconomics

EC311 / TOPIC 31

8.5 Cournot and Stackelberg

A teaching model for this topic. Its illustrative numbers may differ from the worked question.

1 Predict → 2 Try → 3 Explain → 4 Challenge

How do costs change both best responses?

Illustrative model numbers, not Thailand or current economic data.

In Cournot, when both firms’ costs rise, what happens to total output?