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Provide explanation for every question. Especially the 2 last questions Use the information in the table below to answer the following questions. Production per unit

Provide explanation for every question. Especially the 2 last questions

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Use the information in the table below to answer the following questions. Production per unit of Labor Argentina Wheat 200 Beef 100 Which country have an absolute advantage in the production of wheat? Which country have an absolute advantage in the production of beef? What is the opportunity cost of wheat in US? 0.50 units of beef What is the opportunity cost of wheat in Argentina? units of beef What is the opportunity cost of beef in US? units of wheat What is the opportunity cost of beef in Argentina? 0.25 units of wheat Which country has a comparative advantage in wheat production? Which country has a comparative advantage in beef production? Argentina If the trade price of wheat is units of beef, the trade benefits Trade price of a unit of wheat (in units of becl) Trade benefits Argentina .7 Both Argentina and US Both Argentina and US Both Argentina and US Both Argentina and US Both Argentina and US Both Argentina and US 3.7 Both Argentina and US S 99+

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