Principles of Macroeconomics
Principles of Macroeconomics
7th Edition
ISBN: 9781260110982
Author: Frank, Robert
Publisher: MCGRAW-HILL HIGHER EDUCATION
Question
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Chapter 16, Problem 7P

(a)

To determine

Identify the equilibrium price and production of automobiles if the economy is closed.

(b)

To determine

Describe the effects of import quota on quantity imports and exports.

(c)

To determine

Effects of import quota on consumers and producers.

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