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Question 21 1 pts Nebraska Virginia Wheat 10 Cotton 12 For the next nine questions, refer to the table above. Nebraska and Virginia each have 100 acres of farmland. The table gives the hypothetical figures for yield per acre in the two states. Who has the absolute advantage in the production of wheat? Nebraska O Virginia O Both of the above O None of the above Question 22 1 pts Who has the absolute advantage in the production of cotton? Nebraska O Virginia O Both of the above O None of the above Question 23 1 pts Who has the comparative advantage in the production of wheat? O Nebraska Virginia O Both of the above O None of the above Question 24 1 pts Who has the comparative advantage in the production of cotton? O Nebraska Virginia O Both of the above O None of the aboveWheat Cotton 400 480 1200 1100 For the next four problems, you will nd actual points on the combined PPC ot the two states. You will be given a value at one good, and you must calculate the maximum amount of the other good that the two states could produce working together' 400 Wheat: o 930 Cotton @ 1320 Cotton o 560 Cotton 0 1150 Cotton 0 None of the above Question 26 480 Cotton: 0 720 Wheat 0 540 Wheat 0 9w Wheat 0 mac Wheat 0 None of the above Question 27 1200 Cotton: 0 100 Wheat 0 200 Wheat 0 3m Wheat 0 400 Wheat 0 None of the above Question 28 1100 Wheat: 250 Cotton O 350 Cotton O 450 Cotton O 550 Cotton O None of the above Question 29 In Virginia, what is the marginal rate of transformation between wheat and cotton? (Assume wheat is graphed on the vertical axis.) O -0.5 O -0.666 O - 1 O -1.5