California and North Carolina both produce milk and bacon. The two states are wondering if trading with each other will be beneficial. California can produce 12,000,000 gallons of milk or 4,000,000 pounds of bacon per day. North Carolina can produce 2,000,000 gallons of milk or 6,000,000 pounds of bacon per day.questions:1. (CA or NC) has an absolute advantage in the production of milk and (CA or NC) has an absolute advantage in the production of bacon.2. (CA or NC) has a comparative advantage in the production of milk and (CA or NC) has a comparative advantage in the production of bacon3. suppose that the states do not trade and instead rely on itself. If each state allocated their time such that they produce the same amount of milk and pounds of bacon per day, California would produce (?) million gallons of milk and (?) million pounds of bacon4. same as question number three but now for North Carolina. North Carolina would produce (?) million gallons of milk and (?) million pounds of bacon5. now, suppose the states decide to trade. In this scenario, the states only produce the good they have a comparative advantage in. How much milk is produced in the market? How much bacon is produced in the market? here, market means California plus North Carolina. (?) million gallons of milk, (?) million pounds of bacon.6. assume that when they trade, each state trades away half of what they produced for half of whatever the state produced. What is the final allocation of the two goods for each state? Each state receives (?) million gallons of milk and (?) million pounds of bacon.