Which of the following is/are assumptions of Cournot’s oligopoly model ?

i. Firms sell differentiated products

ii. Their marginal costs are zero

iii. Market demand curve is unknown to both sellers and is non - linear

iv. Each firm believes that it’s rival will hold output constant regardless of what level of output it produces 

1
i and iii
2
only ii
3
only iii 
4
ii and iv

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