The Commonwealth of Pennsylvania is the monopoly retailer of wine in the state. Suppose that Quaker Cabernet has no close substitutes and that the statewide inverse demand function for this wine is p=6-0.001Q. The state purchases the wine on the wholesale market for $2 per bottle, and the stateoperated liquor stores incur no other expenses to sell this wine. a. What are the state's profitmaximizing price and quantity? The equilibrium price would be $ 4.00 . {round your answer to two decimal places) The equilibrium quantity would be 2000 units. (round your answer to two decimal places) b. Neighboring New Jersey permits private retailers to sell wine. They face the same statewide demand curve as in Pennsylvania and have the same costs. No interstate wine trade is permitted. Suppose the New Jersey market for Quaker Cabernet is perfectly competitive. What is the equilibrium price and quantity? The equilibrium price would be $|:|. {round your answer to two decimal places) The equilibrium quantity would be |:| units. (round your answer to two decimal places)