1. Teeling distillery has three copper pot stills (k = 3) and produces barrels of Irish whiskey B according to: B = 20 * min Toom, k, 3:] where m is gallons of barley mash and I is weekly employees. They already own the pot stills, so their short run cost function is CSR = 20m + 8001 a. If the Irish whiskey business is competitive, how many laborers is Teeling employing, and how many gallons of barley mash do they purchase every week? b. How many barrels of whiskey is Teeling producing, and what are their weekly costs? c. Demand for Irish whiskey increases, and price per barrel is currently $400. Teeling can not get another copper pot still manufactured in the short run, but can hire more laborers and buy more barley mash. How many barrels do they produce in the short run? What is their profit? d. Describe the long run equilibrium, if Teeling and other distilleries can adjust the number of copper pots in the long run. e. Draw initial supply and demand, and supply and demand in the long run