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Please help with the following question. Thanks! 3. (20 points) Heckscher-Ohlin model: Suppose that there is a small country called Holbox. The following table contains

Please help with the following question. Thanks!

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3. (20 points) Heckscher-Ohlin model: Suppose that there is a small country called "Holbox". The following table contains the consumption and production allocations, and input use of each of the goods before and after free-trade: No-trade Free-Trade Production of good X 100 units 50 units Consumption of good X 100 units 200 units Capital used to produce good X 150 units 100 units Labor used to produce good X 50 hours 25 hours Production of good Y 100 units 200 units Consumption of good Y 100 units 100 units Capital used to produce good Y 100 units 150 units Labor used to produce good Y 100 hours 125 hours Based on the information provided, answer the following questions: (a) How many units of what product are exported? How many units of what product are imported? (2 points) (b) Compute the free-trade relative price of good X. (5 points) (c) Is this country labor-abundant or capital abundant? Clearly justify your answer. (5 points) (d) Has the real wage measured in terms of good Y increased or decreased after trade? Justify your answer. (4 points) (e) Has the real rental rate measured in terms of good X increased or decreased after trade? Justify your answer. (4 points)

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