1. Define opportunity cost. What is the behavior of opportunity costs in Ricardian theory. Mention the principle of opportunity costs which determine the comparative advantage. Q2 Determine the relative prices of cheese and wine after trade with the help of RD and RS curves in Ricardian model. Q3 Briefly explain factors price equalization theorem Q4 Derive marginal productivity curve of labour in specific factors model. What does it show. Q5 How movement of a mobile factor of production affects output in specific factors model. Q6 Differentiate between the effects of a proportionate and relative price change in specific factors model on real variables. Q7 How relative price changes affect output and income distribution in specific factors model. Q8 why PPF is curved. What does it show. Q9 How economic growth affects PPF and RS Q10 Differentiate between the terms of trade effect of an export subsidy and import tariff. Q11 Trade leads to a convergence of relative prices Discuss. Q12 How welfare of a nation increases due to international trade. Q13 Analyse the effects of an increase in the relative price of cloth with the help of PPF and RS and RD curves in standard trade model. Note: Explain all these questions with graph representation kindly