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2) Labor Hours Needed to Make 1 Pound of: Meat Potatoes John 8 Alice 4 a) Who has the absolute advantage in the production of

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2) Labor Hours Needed to Make 1 Pound of: Meat Potatoes John 8 Alice 4 a) Who has the absolute advantage in the production of each good? Who has the comparative advantage? b) If John and Alice decide to trade, which commodity will John trade to Alice? Explain. c) What is the price of meat (in terms of Potato) at which trade can occur and benefit both John and Alice

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