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Business, 10.03.2020 00:41 iamalexander256

Draw the relevant diagrams the following two options.

(1) allocating the 2 million acre-feet by auction (selling it to the highest bidders), and
(2) giving all consumers who would normally be served in a year without water constraints an equal share of the scarce resource.

Label the consumer surplus, government surplus and deadweight loss of each option.

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Draw the relevant diagrams the following two options.

(1) allocating the 2 million acre...
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