Question Two airlines compete flying on the route between San Diego and San Jose. The total monthly market demand for flights on that route is given by P = 580 - Q. The marginal cost to each airline of running a flight on that route is constant at MC = $292. If the 2 airlines compete against each other in a Cournot duopoly, how many flights will each firm run and what will be the resulting market price? Answer

Quantity: _______________ flights (each)

Price: $__________