This paper examines the influence of time delays on establishing equilibrium in a Cournot Oligopoly model by using the tools of system dynamics, specifically by using a simulation done in Vensim PLE software. The first section briefly introduces system dynamics and the tools that are used in the field; the second section applies these tools to the Cournot oligopoly problem. First, a simulation of a standard behavior without time delays is done. Afterwards, time delays are introduced into the model and their influence on establishing equilibrium is analyzed.