Question 10, Text Exercise 5.1 N HW Score: 90.91%, 10 of 11 points Part 2 of 2 Points: 0.5 of 1 If the inverse demand function for books is p=60-Q and the supply function is Q=p, what is the initial equilibrium? What is the welfare effect of a specific tax of T = $3? The initial equilibrium quantity is 30 (round your answer to the nearest integer). The specific tax of T = $3 creates a deadweight loss of | | (round your answer to two decimal places). Question 6, Text Exercise 4.4 > HW Score: 90.91%, 10 of 11 points Part 1 of 6 Points: 0.83 of 1 Each firm in a competitive market has a cost function of C=10q -4q2+ q3. There are an unlimited number of potential firms in this market. The market demand function is Q =24 - p. Determine the long-run equilibrium price, quantity per firm, market quantity, and number of firms. The long-run equilibrium price is $. (Enter your response as a whole number.)Question 6, Text Exercise 4.4 Part 4 of 6 HW Score: 90.91%, 10 of 11 points Points: 0.83 of 1 Each firm in a competitive market has a cost function of C=10q-4q +q. There are an unlimited number of potential firms in this market. The market demand function is Q=24-p. Determine the long-run equilibrium price, quantity per firm, market guantity, and number of firms. The long-run equilibrium price is $ 6 . (Enter your response as a whole number.) The market quantity is 18 units. (Enter your response as a whole number.) The number of firms is 9. (Enter your response as a whole number.) How do these variables change if a tax of $2 per unit is collected from each firm? The long-run equilibrium price is $| |. (Enter your response as a whole number.)