Microeconomics

Kindly assist

Question 15 and 16

15. Updatd service ard reparglidelines br cars in Souh Africa take effect next monti what you should know lhe final guidefires hrcompeiion in he Souti African aubmotive aftermarket will come inb from 1 July, says he National Aubmobile Dealers' Associaon (NADA). guidelines state hat owrers ofnew cars in Souti Arica will have the right to repair or service heir vehicles at an independent provider Offreir choice," Origind Equipment manufacjrers ofcs can switch between selling new cars and offering repair services. Suppose hat in the {Jjre when equilibrium is reached, there is a spike in he demand 6r rew vehicles he corresponding response ofhe manhturers, what will occur in the market Er aubrnofve repair services. a) The eqlibrium price will decrease. b) The eqlibrium price will increase. c) The eqlibrium price will remain uncharged. d) There will be adecrease inhedemand rautomofive repairs. 16. From he short-run b he loryun hr a monopolisjcally competjbve firm... i. Firrnssbrt b en economic profS. ii. The dema-d curve becomes more elastc han in he short run. iii. The demand curve ouuds. a) I only b) iiody. c) ii and iii. d) i. ii ard iii.