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l6. Refer to Figure 1-2. If the government conducts a fully-priced auction of the quota licenses to the highest bidder, how much will it collect
l6. Refer to Figure 1-2. If the government conducts a fully-priced auction of the quota licenses to the highest bidder, how much will it collect as revenue (hint: what is the total revenue to the government under the import quota program)? a. $31.5 million b. $45 million c. $76.5 million (1. $72 million
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