2. The United States was a major consumer of Irish whiskey, so Prohibit tion put most Irish distilleries out of business. Only Jameson continued importing internationally in large numbers. Later in the 20th century, Teeling reopened under new ownership to compete with Jameson. Since whiskey takes at least four years of aging before it's released, neither dis- tillery can know what the going price for whiskey will be once it reaches the market. Demand in the US for Irish whiskey can be represented by P(Q) = 400 - Q where price is a function of total bottles supplied Q, and total bottles of whiskey is equal to bottles produced and released by Teeling and Jamesonrespectively: Q = q7 + q'. Since each distillery has similar production technology, they each face a marginal cost of $10 per bottle they produce. a. If Jameson and Teeling do not collude, how many bottles are released by each distillery? What is the market price? b. If Jameson and Teeling were to collude, how many bottles would you expect to be released by each distillery? What is the market price? c. How much more profit does each distillery earn from collusion? How much consumer surplus is lost? d. Before Teeling reopened, Jameson had a monopoly on Irish whiskey so Q = q. How many bottles were released and what was the market price? e. When Teeling first reopened, they were able to observe Jameson's production and Jameson knew Teeling was opening, so could alter production in anticipation. Assuming a sequential game, with Jame- son as the first mover, how many bottles are released by each dis- tillery