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Please tell me the full answers if this question as i m not known to the concept Suppose we have two countries with identical resources

Please tell me the full answers if this question as i m not known to the concept

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Suppose we have two countries with identical resources - Atlantis and Tyr na Og. They produce two products - tranya (in mega litres) and naquadah (in kilo tonnes). Below is a table showing the production possibilities of each product for each country. Atlantis Production Possibilities Tyr na Og Production Possibilities Alternative Tranya Naquadah Alternative Tranya Naquadah (megalitres) (kilotonnes) (megalitres) (kilotonnes) A 60 0 A 24 0 B 40 5 B 16 4 C 20 10 C 8 8 D 0 15 D 0 12 a) Which country has an absolute advantage in producing tranya? In producing naquadah? Explain. (1 mark) b) What is the opportunity cost of tranya in Atlantis and Tyr na Og? Show your work. (1.5 marks) C) What is the opportunity cost of naquadah in Atlantis and Tyr na Og? Show your work. (1.5 marks) d) Which country has a comparative advantage in tranya? In naquadah? Explain. (1 mark) e) Prior to trade, Atlantis and Tyr na Og each choose alternative B. If the two countries specialize and engage in trade, how much will world output of tranya and naquadah increase? Show your work. (1 mark) ere to search O O g w DELL F7 FC F10 F11 F12 PrtSer Insert F4 F5 3 4 5 E O D U W E R T Y S D F G H J K

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