Both Bertrand and Cournot,in their collusion cheating models,assume that firms take other firms' prices/outputs in the previous period as variable.

Question

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Bertrand assumes firms set prices and consider other firms' prices as given, while Cournot assumes firms set quantities and consider other firms' quantities as given. Neither directly involves using previous period's prices/outputs as variables for collusion cheating models.

Both Bertrand and Cournot,in Their Collusion Cheating Models,assume That Firms