Economic Ideas of Cournot (With Diagram)
The following points highlight the two main economic ideas of Cournot. The economic ideas are: 1. Demand Curve 2. Cournot's Model of Duopoly. 1. Demand Curve: Cournot introduced demand curve in economics. He defined market, which is often quoted by modern economists, as "Economists understand by the term market, not any particular market place in which things are brought and [...]