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Hello please need your help for this 2 questions. Please follow the instructions on the pictures. 7. Answer the question using this table. Hours Needed

Hello please need your help for this 2 questions. Please follow the instructions on the pictures.

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7. Answer the question using this table. Hours Needed To Make: 1 1 Ton of Car Cheese United Kingdom 18 6 Peoples Republic of China 8 4 Which country has a comparative advantage in car production ? [FOR FULL CREDIT YOU MUST SHOW ALL COMPUTATIONS]. 8. Assume that two countries (Pomerania and Ruthenia) produce and sell the same two commodities (steel and coal) at the following prices in their respective home markets before trade: Pomerania Ruthenia (dinars) (marks) Unit price of steel 4.00 3.00 Unit price of coal 2.00 12.00 Assume that reciprocal demand is 2.0 million units of steel and 1.0 million units of coal and assume that both countries have neither a trade deficit nor a trade surplus. Calculate the exchange rate in terms of an amount of marks per 1 dinar. [FOR FULL CREDIT YOU MUST SHOW ALL COMPUTATIONS]

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