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QUESTION

Rank the following in ascending order o f Home welfare and justify your answers. If two items are equivalent, indicate this accordingly.

Rank the following in ascending order o f Home welfare and justify your answers. If two items are equivalent, indicate this accordingly. 

a. Tariff of t in a small country corresponding to the quantity of imports M.

b.Quota with the same imports M in a small country, with quota licenses distributed to Home firms and no lobbying. 

c. Quota of M in a small country with quota licenses auctioned to Home firms. 

d.Voluntary export restraint of M in a small country.

e.Quota of M in a small country with quota licenses distributed to Home firms due to lobbying.

c. Quota of M in a small country with quota licenses auctioned to Home firms.It thus means that certain firms in the home country shall have the privilege of distributing theconcerned...
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