5. The price of trade Suppose that Ireland and Norway both produce ale and shoes. Ireland's opportunity cost of producing a pair of shoes is 5 kegs of ale while Norway's opportunity cost of producing a pair of shoes is 11 kegs of ale. By comparing the opportunity cost of producing shoes in the two countries, you can tell that has a comparative advantage in the production of shoes and has a comparative advantage in the production of ale. Suppose that Ireland and Norway consider trading shoes and ale with each other. Ireland can gain from specialization and trade as long as it receives more than of ale for each pair of shoes it exports to Norway. Similarly, Norway can gain from trade as long as it receives more than of shoes for each keg of ale it exports to Ireland. Based on your answer to the last question, which of the following prices of trade (that is, price of shoes in terms of ale) would allow both Norway and Ireland to gain from trade? Check all that apply. O 7 kegs of ale per pair of shoes 10 kegs of ale per pair of shoes O 15 kegs of ale per pair of shoes 3 kegs of ale per pair of shoes