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3. Consider the following diagram of the market for cars in China. Suppose that the importation of cars DomesWorldere banned in China, and as a

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3. Consider the following diagram of the market for cars in China. Suppose that the importation of cars DomesWorldere banned in China, and as a result the equilibrium price of cars in China rose from $30,000 to Demanlepply $35,000 as shown below: P Domas45 000 Supply $35,000 $30 000 0 140, 000 a. What was consumer surplus when car imports were permitted? b. What has happened (in dollar terms) to consumer surplus when the importation of cars was banned? c. How will the number of cars produced by domestic companies change

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