1.Who has an absolute advantage in barley production? Explain your answer.2.What is the relative price of oat in Umut's Island? Explain your answer.3.Suppose now that there is trade between the two islands. Each island will fully specialize in the production of that good in which they have comparative advantage and then export it to the other island. Who has comparative advantage in barley production? Who has comparative advantage in oat production?4.Is is possible for Umut to consume 9 oat and 12 barley if one oat is exchanged with 2 barley in trade with Deniz? Explain your answer

Barley 25 10 Oat 15 Oat Deniz Umut points) Suppose that Deniz and Umut are living in two detached islands and the only resource is their labor. The feasible production frontiers of Deniz and Umut are as n above. a. Who has an absolute advantage in barley production? Explain your answer. b. What is the relative price of oat in Umut's Island? Explain your answer. c. Suppose now that there is trade between the two islands. Each island will fully specialize in the production of that good in which they have comparative advantage a then export it to the other island. Who has comparative advantage in barley production? Who has comparative advantage in oat production? d. Is is possible for Umut to consume 9 oat and 12 barley if one oat is exchanged with 2 barley in trade with Deniz? Explain your