Short Questions Ill marks {marks distribution need not he I'llll} in the actual exam]: 1} ll marks. Consider a country with the following production mclion: production of a unit of good It requires our units of labour and m units of capital. The two goods available are electronics and food {E and F}, the factor requirements are: {a} 3 marks. Suppose that country A has the following factor endow'ment: coo capital and EDD labour. Derive the production possibilities frontier for this economy, mathematically and graphically. [b] I mark. Describe the opportunity cost of producing electronics at different regions of production. {c} I mark. Which goodfs would you describe as capital intensive? [d] I mark. Would you describe this country as being capital or labour abundant? {a} 3 marks. Now suppose that there is another country, B, with the same production technology, but with different factor endowments: 40".] capital and 32D labour. Derive the production possibilities frontier for this economy, mathematically and graphically. [a] _ {c} I mark. Now, following e, would your answer to part d change?I [d] I mark. What would you expect the goods' prices to be before trade?I What can we say about prices after trade?I {e} I mark. What wotdd be the direction of trade? 3 marks. Is it always the case that trade increases the welfare of a nation? Under what circumstances would the concentration of industries in one country leave another country worse off when trade resumes between them? Explain with an example case study and diagrammalic explanation. EVERYONE: upload your handdrawn graphs on LMS within IS minutes of the exam close; F2F students: Please hand over your drawings to the invigilator after uploading