3. (11} Explain how a country can have an absolute disadvantage in the production of all goods but still have a comparative advantage in the production of some goods. 4. (25) Use the table below on labor productivities in Russia and Chile to answer the following questions: Output per hour worked Russia Chile IWine 2 bottles 1 bottle Caviar {1.25 lbs. [1.5 lbs. Which country has absolute advantage in wine?I In caviar? What is the opportunity cost of wine in Russia? In Chile? Which counhv has a comparative advantage in wine? In caviar? Explain vour answer. What are the upper and lower bounds for the trade price of 1wine? Draw a hypothetical PPF for Russia (assuming it has a total labor force made up of 3 workers) under constant costs and label its slope. Suppose that Russia follows its comparative advantage in deciding where to produce on its PPF. Label its production point. If the trade price of caviar is ve bottles of wine per pound of caviar. draw a trade line showing how Russia can gain from trade. Explain. sear-rs