Suppose that Ontario and Vermont each produce two goods, maple syrup (M) and hockey sticks (H).The quantities of each good that can be produced by each region in a day are given below:

ONTARIO VERMONT

GALLONS OF MAPLESYRUP/DAY4001200

HOCKEYSTICKS/DAY200300

In thequestion above, if Vermont and Ontario specialize and trade, then

a. only Vermont is better off.

b.only Ontario is better off.

c.both countriescan achieve points on their CPCsthat lie above their PPCs.

d.Ontario will see a decline in its standard of living.

e.For Vermont,the CPC would lie below the PPC.