Suppose the U.S. government imposes a binding quota on the number of Japanese-made cars allowed into the United States. Assuming that Japanese-made cars and U.S.-made cars are substitutes in consumption, we would expect the price of Japanese cars to _ and the price of U.S.-made cars to _.

The price of Japanese car would increase because its supply would be limited. Demand being the same with decrease in supply its price is bound to increase.

when the Japanese car supply would be limited, this will mean an overall limited supply of cars, including the U.S. made cars as well. Again, Demand being the same with decrease in supply its price is bound to increase.

Suppose the U.S. government imposes a binding quota on the number of Japanese-made cars allowed into the United States. Assuming that Japanese-made cars and U.S.-made cars are substitutes in consumption, we would expect the price of Japanese cars to _____ and the price of U.S.-made cars to _____.

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Suppose the U.S. government imposes a binding quota on the number of Japanese-made cars allowed into the United States. Assuming that Japanese-made cars and U.S.-made cars are substitutes in consumption, we would expect the price of Japanese cars to _ and the price of U.S.-made cars to _.