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pls help Suppose the Canadian demand for and the Japanese supply of cars to Canada is shown in the table below (quantities in thousands). a)
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Suppose the Canadian demand for and the Japanese supply of cars to Canada is shown in the table below (quantities in thousands). a) The present equilibrium price is $ and quantity is thousand. b) Suppose that the Canadian government imposes a $2,000 per car tariff on imported Japanese cars. Show the new supply in the las column above. c) The new equilibrium price is $ and quantity is thousand. d) The total revenue received by the government will be $ million. e) Assume, instead, that the government imposes an import quota of 90,000 cars. The new equilibrium price is $ and quantity is thousand. f) Does the government now receive any revenueStep by Step Solution
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