Rank the Following in Ascending Order of an Imposing Small

question 12

Essay

Rank the following in ascending order of an imposing small country's
welfare.If there are any two that are equivalent, explain their equivalencies.
A) a tariff of t in a small country resulting in imports of M units
B) a quota of M units of imports, with the government auctioning quota
licenses to the highest bidders
C) a quota of M units of imports in which domestic firms engage in rent­
seeking activities.
D) an arrangement in which the exporting country voluntarily agrees to
limit its exports to M units

• A) a tariff of t in a small country resulting in imports of M units
• B) a quota of M units of imports, with the government auctioning quota
• licenses to the highest bidders
• C) a quota of M units of imports in which domestic firms engage in rent­
• seeking activities.
• D) an arrangement in which the exporting country voluntarily agrees to
• limit its exports to M units

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