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Suppose the country that produces comtrades 18 milion bushels of corn to the other country in exchange for 54 million pairs of jeans. ols In

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Suppose the country that produces comtrades 18 milion bushels of corn to the other country in exchange for 54 million pairs of jeans. ols In the following table, select the amount of each good that each country exports and imports in the boxes across the row marked "Trade Action, and enter each country's final consumption of each good on the line marked "Consumption." When the two countries did not specialize, the total production of com was 23 million bushels per week and the total production of jeans was 68 million pairs per week. Because of specialization, the total production of corn has increased by million bushels per week and the total production of jeans has increased by million pairs per week, ps Tips Because the two countries produce more corn and more jeans under specialization, each country is able to gain from trade. Calculate the gains from trade-that is, the amount by which each country has increased its consumption of each good relative to the first row of the table. In the following table, enter the difference in the boxes across the last row (marked "Increase in Consumption). Euphoria Contente Corn Corn Jeans (Millions of bushels)(Millions of pairs)(Millions of bushels) (Millions of pairs) Without Trade Production 15 Consumption 20 with Trade Production Trade action Consumption Gains from Trade Increase in Consumption D'DE 1000

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