16) In the long run equilibrium, how many different car makers will there be ? A)5 B)4 C)7D)617) In the long run equilibrium, each maker produces how many cars? A)4B)1C)2D)318) The long run equilibrium price for each car is P = A)9B)10C)8D)719) In the long run equilibrium, how many cars will be sold? A)7 B)8 C)10 D)920) In the long run equilibrium, total profit of all car makers is equal to Total Profit = A)60 B)20 C)0D)4021) In the long run equilibrium, total producer surplus of all car makers is equal to A)20 B)0C)60D)4022) Total consumer surplus in the long run equilibrium is equal to CS = A)100 B)120 C)80 D)6023) Total surplus (welfare) in the long run equilibrium is equal to TS = A)140 B)80 C)100 D)12024) Which describes best the use of capital of each firm in the long-run equilibrium? A)Each firm perfectly utilizes its capital (production efficiency) B)Each firm overutilizes its capital (capital scarcity) C)The question cannot be answered without additional information. D)Each firm underutilizes its capital (excess capacity)

The demand function for cars is Q = 15 - - The market is subject to monopolistic competition and each firm produces with the total cost function TC = $9' 29+8 Question 15 (1 point) E Listen What is each car maker's inverse residual demand function in the long run equilibrium? OP=16-3Q OP=18-4Q OP=12-1Q OP=14-2