G Rank the following in ascending order of 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. 4 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.

scenario: hawaii and south carolina are trading partners. hawaii has an absolute advantage in the production of both coffee and tea. the opportunity cost of producing 1 pound of tea in hawaii is 2 pounds of coffee, and the opportunity cost of producing 1 pound of tea in south carolina is 1/3 pound of coffee. which of the following statements is true? a. south carolina should specialize in the production of both tea and coffee. b. hawaii should specialize in the production of tea, whereas south carolina should specialize in the production of coffee. c. hawaii should specialize in the production of coffee, whereas south carolina should specialize in the production of tea. d. hawaii should specialize in the production of both tea and coffee.