HW Score: 95.83%, 19.17 of 20 points Points: 0.67 of 1 Save ork Question 6, End...

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HW Score: 95.83%, 19.17 of 20 points Points: 0.67 of 1 Save ork Question 6, End of Chapter 3.5 Part 3 of 3 The table below shows the hourly output per worker in two industries in Chile and Argentina. Use this table to answer the following questions Output per hour of work Hats Beer Chile Argentina 8 1 4 2 a Chile has an absolute advantage in the production of hats, and Chile has an absolute advantage in the production of beer b. Chile has a comparative advantage in the production of hats, and Argentina has a comparative advantage in the production of beer c. Suppose that Chile and Argentina currently do not trade with each other. Each has 1,000 hours of labor to use for producing hats and beer, and the countries are currenity producing the amounts of each good shown in the table below. Using this information, give a numerical example of how Chile and Argentina can both gain from complete specialization and trade. Assume that after trading begins, one hat can be exchanged for one barrel of beer. Chile Argentina Hats Beer 6,000 700 700 600 Complete the table below. The table represents the amount of hats and beer after trading for each country (enter your responses as integer values) es Get more help- Hats Beer Chilo 700 Argentina 700 Clear all Final check HW Score: 95.83%, 19.17 of 20 points Points: 0.67 of 1 Save ork Question 6, End of Chapter 3.5 Part 3 of 3 The table below shows the hourly output per worker in two industries in Chile and Argentina. Use this table to answer the following questions Output per hour of work Hats Beer Chile Argentina 8 1 4 2 a Chile has an absolute advantage in the production of hats, and Chile has an absolute advantage in the production of beer b. Chile has a comparative advantage in the production of hats, and Argentina has a comparative advantage in the production of beer c. Suppose that Chile and Argentina currently do not trade with each other. Each has 1,000 hours of labor to use for producing hats and beer, and the countries are currenity producing the amounts of each good shown in the table below. Using this information, give a numerical example of how Chile and Argentina can both gain from complete specialization and trade. Assume that after trading begins, one hat can be exchanged for one barrel of beer. Chile Argentina Hats Beer 6,000 700 700 600 Complete the table below. The table represents the amount of hats and beer after trading for each country (enter your responses as integer values) es Get more help- Hats Beer Chilo 700 Argentina 700 Clear all Final check