Illustrate the effect on the market for japanese automobiles

Reference no: EM133261002

Question 1: Construct a market for automobiles produced in Japan and exported to the U.S. with an equilibrium price of $40,000 and a quantity exchanged of 500,000 million automobiles.

Question 2: Illustrate the effect on the market for Japanese automobiles exported to the if the U.S. if the federal government imposes an import quota at 250,000 vehicles.

Reference no: EM133261002

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