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.
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