2. Suppose the market for bottles of wine has a demand curve perfectly inelastic at 0.9 = 18. The industry consists of 3 identical firms with total cost curves given by TC = Qz+6Q+36 and marginal cost curves given by MC = 2Q+6. a. In the long run, how many bottles of wine will each firm produce? What will the price per bottle be? Suppose another firm enters the market with a total cost curve of TC = Q2+2Q+4 and a marginal cost curve of MC = 2Q+2. Do you expect that this firm will take over the market while no other firm can adopt its technology/production methods? What kind of profits will this rm make? How do the answers to the previous questions change if firms start to adopt the new firm's technology/production methods? (You do not need to calculate anything to answer this part qualitative statements will suffice). c. What will the final production be from each firm in the short run? What will the price per bottle be