How is Cournot’s model of oligopoly different from Bertrand’s model of oligopoly?

Cournot's Model of Oligopoly vs. Bertrand's Model of Oligopoly: 

Oligopoly is a market structure characterized by a small number of large firms dominating the market. In such a setting, the strategic interactions among these firms play a crucial role in determining market outcomes. Two classical models that offer distinct perspectives on how firms behave in an oligopolistic market are the Cournot model and the Bertrand model. These models provide valuable insights into the strategic decision-making of firms and their impact on market equilibrium. Let's explore the key differences between Cournot's and Bertrand's models of oligopoly.

1. Quantity vs. Price Competition: One of the fundamental distinctions between Cournot's and Bertrand's models lies in the type of competition they emphasize. In the Cournot model, firms compete by choosing the quantity of output to produce. Each firm assumes __________ __________ ________ _________ ________.
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