Question 2 (25 Points] The purpose of this question is to compare the lahour-to-land ratio of Canada and three other countries of your choice. Assume that the labor force is a constant fraction of the population so that the population-to-land ratio (population density) can serve as a proxy.r for the labour-to-land ratio. Calculate the population-to-land ratio for Canada and your selected countries. If Canada has an abundance of land in these calculations, would you predict that it is a net exporter of agricultural goods? Look at the data to see ifyour prediction is correct. Data: For the ahundancefscarcity calculations, go to the World Bank site at h_ttp:ffwww.worldhank.org/dataf. For data on population, click "Data", select "By country," and then click on the name of the selected country to nd its population. For data on land area, click "Data", select "Indicators" and then choose \"Land Area". For Canadian imports and exports in agriculture, use the Industry Canada Trade Data Online' page at httpsfwww.ic.gc.cafappfscrftdstzl'tdofcrtr.htrnl . Select the appropriate country and at least two categories of agricultural products. Question 3 (25 points): {HO model, with two goods and with two factors of production} Suppose that at current factor prices a ton of steel is produced using 20 hours of labor and 1 acre of land, and a ton of rice is produced using only 5 hours of labor and 1 acre of land. Suppose that the economy's total resources are 600 hours of labor and 60 acres of land. Initially, P5 = $600fton 8r. Pr =$300fton i. Draw the production possibility frontier with steel on the vertical axis and rice on the horizontal axis. ( 6 points) ii. Write down the unit cost of producing one ton of steel and one ton of 1ice as a function of the hourly wage rate (w) and the rental rate (r). In a competitive market, these costs will be equal to the prices of steel and lice. Solve for the factor prices w and r. ( 7 points) iii. Now suppose that the labor supply increases to 900 hours. State and prove the Ryhczyuski theorem. (6 points) iv. Suppose Pr increases to $450fton (from the initial situation).State and prove the Stolper-Samuelson theorem. (6 points)