If the government of Mexico introduces an import quota of 4 million cars a year, what will

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If the government of Mexico introduces an import quota of 4 million cars a year, what will be the price of a car in Mexico, the quantity of cars produced in Mexico, and the quantity imported?

Figure 18.12 shows the car market in Mexico when Mexico places no restriction on the quantity of cars imported. The world price of a car is $10,000.

FIGURE 18.12 Chapter Checkpoint Assignable Problems 7 to 9 Price (thousands of dollars per car) 18 16 14 12 10 10 12 8.

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Foundations of Macroeconomics

ISBN: 978-0134492001

8th edition

Authors: Robin Bade, Michael Parkin

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Question Posted: May 22, 2018 12:55 AM

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If the government of Mexico introduces an import quota of 4 million cars a year, what will

Question:

FIGURE 18.12 Chapter Checkpoint Assignable Problems 7 to 9 Price (thousands of dollars per car) 18 16 14 12 10 10 12 8. 14 4. Quantity (millions of cars per year)

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Foundations of Macroeconomics

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