Albert and Wing live in Country A and can produce either Good X or Good Y. Both of them work 8 hours per day, and the following table summarizes the time they need to produce a unit of Good X and Good Y:

	Good X	Good Y
Albert	10 minutes per unit	20 minutes per unit
Wing	20 minutes per unit	50 minutes per unit

a) What good (Good X or Good Y) should Albert and Wing specialize in? (No explanation is required). (4 points) b) Please state clearly the possible range of mutually acceptable "exchange ratio between Good X and Y" for Albert and Wing? (4 points)

Country A decides to open up to world trade. As a result of the open-up policy, Albert and Wing can either sell to World Market (export) or buy from World Market (import) the above two goods. Given that the exchange ratio between Good X and Y in the World Market is 1 unit of Good X for 5 units of Good Y: c) With the presence of the World Market, what Good(s) would Albert and Wing specialize in and exchange for? Explain. (6 points) d) However, the shipping of Good X and Y (to and from the World Market) is costly, how the size of transportation cost affects Albert and Wing in exchange with the world market? *Note: You can consider two cases that (i) transportation cost is a small one, and (ii) transportation is a huge one. (6 points)