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2. From June 2017 to June 2018, the price of jet fuel jumped 33%. a. Based on a general Cournot model, use calculus to show

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2. From June 2017 to June 2018, the price of jet fuel jumped 33%. a. Based on a general Cournot model, use calculus to show how much a marginal change in the marginal cost, m affects the equilibrium price. b. In 2018, fuel cost was about 23% of airlines' costs. Calculate how much a one-third increase in fuel costs would have affected the equilibrium price in the airline model in the textbook on pages 503-505. Why did prices rise less than in proportion to per-passenger-per-day cost

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