Suppose there are only two goods (cotton and oranges) and only two countries (Australia and New Zealand). Assume the following information on technology in each country (labor hours required per unit of output) and resource endowments (total labor hours per period available for producing the two goods): Australia New Zealand 20 hrs 1 ton oranges 20 hrs Total Labor 3,000 500 Hours Available per period 1 ton cotton million million 1. Which country has an absolute advantage in producing cotton? .. .in producing oranges? 2. What is the opportunity cost of producing one more ton of cotton in New Zealand? In Australia? 3. What is the opportunity cost of producing one more ton of oranges in New Zealand? In Australia? 4. Which country has a comparative advantage in producing cotton? .. .in producing oranges? Briey, how do you know