the countries of the European Union place a limit of 5,000, Japanese automobiles allowed to be imported into its member countries per month. What is a likely result of the action?

The likely result of the action is that European automakers will be benefited but European consumers of cars will have to pay more or in any case will be harmed, because the market of cars is strayed away from free competition. If the economies in a country or group of countries get closer to free trade and free competition, the situation gets better for consumers most of the time.