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Calculate the total quota rent and show your work

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Question - Look at the figure The Shrimp Market. If the government imposes a quota limiting sales of shrimp to 500 pounds.

939_figure.png

Calculate the total quota rent and show your work.

What is this quota limit considered to be?

What would the total quota rent be if the quantity was restricted to 1,250 pounds?

Reference no: EM132456763

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