In the Cournot oliogopoly model, firms compete by setting quantities. In class we noted that as the number of firms in the market grows very large, the outcome looks increasingly like what other model we studied? Provide intuition for your answer.

ENGR.ECONOMIC ANALYSIS
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  1. In the Cournot oliogopoly model, firms compete by setting quantities. In class we noted that as the number of firms in the market grows very large, the outcome looks increasingly like what other model we studied? Provide intuition for your answer.

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