The article explores how companies decide on the amount of money they borrow when competing in markets where they can first decide on how much to produce and then set prices. The study looks at how uncertainty in the market affects these financial decisions. Surprisingly, when companies in these markets face uncertain demand, they prefer not to borrow money, even though a different kind of competition usually leads firms to borrow. This result differs from what was previously believed based on other models. So, in this specific type of market, firms typically choose to avoid debt when it comes to competing on both capacity and pricing.