At december 31, 20x3, before recognizing any depreciation expense for 20x3, x company has a machine with an original cost of $360,000 and accumulated depreciation of $90,000. the machine is used to manufacture a specific product and, at december 31, 20x3, has a remaining useful life of 7 years with no salvage value. the machine was used to produce 10,000 units in the current year, 20,000 units in previous years, and is expected to be used to produce an additional 50,000 units over its remaining life. if x company uses the units of production method for calculating depreciation, depreciation expense in 20x3 will be (rounded):

Suppose that fixed costs for a firm in the automobile industry (start-up costs of factories, capital equipment, and so on) are $5 billion and that variable costs are equal to $17,000 per finished automobile. because more firms increase competition in the market, the market price falls as more firms enter an automobile market, or specifically, , where n represents the number of firms in a market. assume that the initial size of the u.s. and the european automobile markets are 300 million and 533 million people, respectively.a. calculate the equilibrium number of firms in the u.s. and european automobile markets without trade.b. what is the equilibrium price of automobiles in the united states and europe if the automobile industry is closed to foreign trade? c. now suppose that the united states decides on free trade in automobiles with europe. the trade agreement with the europeans adds 533 million consumers to the automobile market, in addition to the 300 million in the united states. how many automobile firms will there be in the united states and europe combined? what will be the new equilibrium price of automobiles? d. why are prices in the united states different in (c) and (b)? are consumers better off with free trade? in what ways?