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10. nswer the following questions: A) The following tables represent the maximum output that each country can produce if they focus on just producing that
10. nswer the following questions: A) The following tables represent the maximum output that each country can produce if they focus on just producing that one item. Determine which country (if any) has absolute advantage in which product and why. B) Determine the opportunity cost of producing each product for each country. 'Which country has comparative advantage in which product and why? C) Create a table of all possible whole number combinations of food and clothing that each country can produce on its own in autarky. D) Have each country specialize in what they produce best. Create two (2) trades of food for clothing that will make both countries better off after the trade than they otherwise could be producing all of their products on their own. It's okay if countries have all of one good if it's more they could have made on their own. You'll know they're better off by comparing them to the tables you have created. E) What point is this exercise making? a US i. Food2 ii Clothing4 b. Spain 1. Food2D ii. Clothing10
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