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please help with the following problem
24.3 (0) Suppose that the demand function for Japanese cars in the
United States is such that annual sales of cars (in thousands of cars) will
be 250−2P, where P is the price of Japanese cars in thousands of dollars.
(a) If the supply schedule is horizontal at a price of $5,000 what will
be the equilibrium number of Japanese cars sold in the United States?
240 thousand. How much money will Americans spend in total on
Japanese cars? 1.2 billion dollars.
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