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There are three countries - Argentina, Britain and Canada. Each country produces and consumes two kinds of goods - crude oil and beef. All countries

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There are three countries - Argentina, Britain and Canada. Each country produces and consumes two kinds of goods - crude oil and beef. All countries make their goods from a single type of input - labor - and each country has 700 hours of labor available to produce crude oil and beef. Each country demands 5 (five) barrels of crude oil. This assumption simply means that a country must have exactly 5 barrels of crude oil - it may produce them domestically, it may import them from abroad, or it makes some domestically and imports the rest. . Countries produce goods using the technology described in the table below: Technology Hours of labor needed to produce one unit of good Argentina Britain Canada barrel of crude oil 60 50 70 pound of beef 1 3 5 Using the above assumptions, answer the following questions: . Calculate the quantities of crude oil and beef produced in each country in autarky (when they do not trade and each country produces its own crude oil and beef) Quantities produced Argentina Britain Canada Autarky barrel of crude oil (No trade) pound of beef . Order the countries according to their absolute advantage in production of crude oil

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