5. The price of trade Suppose that Italy and Switzerland both produce fish and olives. Italy's opportunity cost of producing a crate of olives is 5 pounds of fish while Switzerland's opportunity cost of producing a crate of olives is 11 pounds of fish. By comparing the opportunity cost of producing olives in the two countries, you can tell that production of olives and has a comparative advantage in the production of fish. has a comparative advantage in the Suppose that Italy and Switzerland consider trading olives and fish with each other. Italy can gain from specialization and trade as long as it receives more than of fish for each crate of olives it exports to Switzerland. Similarly, Switzerland can gain from trade as long as it receives of olives for each pound of fish it exports to Italy. more than Based on your answer to the last question, which of the following prices of trade (that is, price of olives in terms of fish) would allow both Switzerland and Italy to gain from trade? Check all that apply. 10 pounds of fish per crate of olives 2 pounds of fish per crate of olives 9 pounds of fish per crate of olives 1 pound of fish per crate of olives