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Provide workings for all answers. Kilograms Produced in 24 Hours Meat Potatoes Indonesia 3000 12000 Thailand 8000 4000 Please show the working. a. Which country

Provide workings for all answers.

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Kilograms Produced in 24 Hours Meat Potatoes Indonesia 3000 12000 Thailand 8000 4000 Please show the working. a. Which country has comparative advantage in meat? Which country has comparative advantage in potatoes? (2 marks) Suppose that both countries engage in trade based on the exchange rate of 4 potatoes for 5 meat. b. How much does the Indonesia gain in terms of meat? (1 marks) How much does the Thailand gain in terms of meat? (1 marks) 9.0 What is the range for mutually benecial trade? (1 marks)

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