Econ's 6313

Two airlines, Global Air and World Air, fly out of an airport in a medium-sized city. The airlines' costs and are illustrated in the adjacent figure (Figure A). The figure also shows the market demand curve marginal revenue curve (MR) Suppose that the two firms act as Cournot duopolists. If there is only one airline in the market, the price of tickets is set at $ and the quantity of tickets sol The firm's economic profit is $ (Carefully enter your responses considering the units on the axes of the given figure.)