Soybean Soybean PPF of UNITED STATES PPF of ARGENTINA 20 20 15 15 10 10 . 5 Petroleum Petroleum 5 10 15 20 5 10 15 20 Output (or Production) Table: (Output of 1 labor per day, with 8 hours working day per labor ) Country Soybean (tons) Petroleum (barrels) United States 20 10 Argentina 8 2 . Which country has an Absolute Advantage in the production of Soybean? Which country has an Absolute Advantage in the production of Petroleum? Opportunity Cost Table: Country Opportunity Cost of 1 unit Soybean (in terms of Opportunity Cost of 1 unit Petroleum (in terms of Petroleum) Soybean United States (10 + 20 =) barrels (20 + 10 =) tons Argentina (2 + 8 =) barrels (8+ 2 =) tons Which country has a Comparative Advantage in the production of Soybean? Which country has a Comparative Advantage in the production of Petroleum? . Any number between and is a good terms of trade for 1 ton of Soybean. Any number between and is a good terms of trade for 1 barrel of Petroleum