a. What is the (relative) price of pizza (lbs. of cheese/pizza) in each country? b. Which country has comparative advantage in producing pizza? Which one has compara- tive advantage in producing cheese? c. Suppose both Italy and France consume 2 billion lbs. of cheese prior to trade. Show their pre-trade consumption points on respective graphs (label them B and B' respectively on graphs). Find out the pre-trade consumption of pizza in two countries. d. Suppose each country specializes when trade opens. Which good will Italy specialize in? Which country will France specialize in? e. Now suppose the post-trade price of pizza is 2.25 or 9/4 lbs. of cheese per pizza. Also assume that consumption of cheese in France and Italy remains same as prior to trade. Show new consumption points for France and Italy (label them C and C' respectively on graphs). Find out the post-trade consumption of pizza in two countries. Hint: You need to draw trade line for both countries for answering this part. f. Does each country gain from trade? Explain.Question 3. The following graphs show the production possibilities curves for France and Italy: France Italy Cheese Cheese 5 PPF/ PPC 6 Billion Billion Lbs. Lbs. PPF/ PPC 3 Pizza 2 Pizza Billions Billions