I5. In the early 1990's, a study found that moderate daily consumption ofred wine reduced the incidence of heart disease in laboratory rats. As a result of national press coverage of the report, the demand for red wine increased dramatically. Assume that the red wine market satisfies all of the attributes of perfect competition. Further assume that red grapes are the most expensive input into the red wine production process. to} Draw a graph of the market for wine to demonstrate the effect of the report on market equilibrium. Consider only shortrun results. Explain your answer. {Estuaries} {bl Graph the initial reaction of individual incumbent firms to the increase in market demand. [in your graph, identify the firrn's revenue and mast structure, including the marginal cost and average total cost curves. Ensure that your graph shows the profit region. Will this result last? Briey explain why profit occurs. (Emaricsj