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Posted on Jun 26, 2024

Look at the figure The Shrimp Market. If the government imposes a quota limiting sales of shrimp to 500 pounds.Answer each of the following questions.

A. Calculate the total quota rent and show your work. (1)

B. What is this quota limit considered to be? (1)

C. What would the total quota rent beif the quantity was restricted to 1,250 pounds? (1)

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