Refer to the economy represented in the Graph in Question 1. A. Does this economy have competitive markets for either or both of the two products X and Y? Explain your answer. B. Given your answers to Part A, can the Hechsher~0hlin model be used to explain trade? Explain your answer. C. if there is a second country with identical PPC and community indifference curve. can the two engage in trade? What shall be the nature of the trade? Explain. D. What is intra-industry trade? It the graph in Question 1 relates to intra industry trade, are X and Y likely to represent cereal and chemicals (option A) or, whoiegrain cereal and chocolate coated cereal (option B). Explain your answer. ' Edit Format Table 12pt V Paragraph V i B