The accompanying hypothetical production possiblities tables are for New Zealand and Spain. Each country can produce apples and plums: a. Plot the production possibilities data for each of the two countries separately. Show the trading possibilities lines for eoch nation if the actual terms of trade are 1 plum for 2 apples. Instructions: (1) Use the tools provided, 'PPC NZ' and 'PPC SP.' (plot 4 points each) to draw the PPC curves. (2) Use the tool provided, Tor, in each diagram (plot 4 points each) to draw the trading possibilities lines for each nation. To earn full credit, you must correctly piot all points for each line. Referring to your graphs, answer the following: Instructions: Enter your answers is whole numbers. b. What is each country's cost ratio of producing plums and opples? New Zealand's cost of producing 1 plumin) Referring to your graphs, answer the following: Instructions: Enter your answers as whole numbers. b. What is each country's cost ratio of producing plums and apples? New Zealand's cost of producing 1 plum(s). apple(s) Spain's cost of producing 1 plum(s). apple(s) c. Which nation should specialize in which product? Suppose the optimum product mixes before specialization and trade were alternative B in New Zealand and alternative S in Spain. d. What would be the gains from specialization and trade? Gains = apple(s) and plum(s)