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See attached image. The gains from specialization and trade are discussed in terms of production gains and consumption gains. Assume conditions of complete specialization. The

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The gains from specialization and trade are discussed in terms of production gains and consumption gains. Assume conditions of complete specialization. The following two tables show the production of autos and wheat for two countries, Flauton and Vostren, before and after they specialize in one of the goods, as well as consumption before and after the countries start trading. Complete the following table by calculating production gains or losses from specialization and filling in the last two columns. Before Specialization After Specialization Net Gain or Loss Autos Wheat Autos Wheat Autos Wheat Country (Thousands) (Thousand tons) (Thousands) (Thousand tons) (Thousands) (Thousand tons) Flauton 60 50 130 0 Vostren 60 100 0 200 World 120 150 130 200 Complete the following table by calculating consumption gains or losses from trade and filling in the last two columns. Before Trade After Trade Net Gain or Loss Autos Wheat Autos Wheat Autos Wheat Country (Thousands) (Thousand tons) (Thousands) (Thousand tons) (Thousands) (Thousand tons) Flauton 60 50 65 100 Vostren 60 100 65 100 World 120 150 130 200

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