Who has the comparative advantage in producing wheat? And why? (NOTE: You may need to scroll the screen upward to see the table describing the production possiblity frontiers (ie. PPF's) for the two countries. Question 42 (2 points) Who has the comparative advantage in producing corn? And why? A/ FOL X W PQuestion 42 (2 points) Who has the comparative advantage in producing corn? And why? A/ I Question 43 (6 points) Suppose that Canada is currently producing and consuming 60M bushels of wheat and 30M bushels of corn, and the US is currently producing and consuming 20M bushels of wheat and 320M bushels of corn. Demonstrate that Canada and the US can both be better off if they specialize in producing only one good and engage in trade. Be as specific as you can. FOL X W PQuestion 41 (2 points) Canada United States tonnes) Wheat (millions Corn (millions Wheat (millions Corn (millions tonnes) tonnes) tonnes) O 120 O 400 20 90 20 320 40 60 40 240 60 30 60 160 80 80 80 100 O Who has the comparative advantage in producing wheat? And why? (NOTE: You may need to scroll the screen upward to see the table describing the production possiblity frontiers (ie. PPF's) for the two countries. FOL X W PSHORT ANSWER SECTION Canada United States Wheat (millions Corn (millions Wheat (millions Corn (millions tonnes) tonnes) tonnes) tonnes) 120 0 400 20 90 20 320 40 50 40 240 60 30 60 160 80 0 80 80 100 0 Question 41 (2 points) Canada United States Wheat (millions Corn (millions Wheat (millions Corn (millions tonnes) tonnes) tonnes) tonnes) O 120 0 400 20 90 20 320 40 60 40 240 FOL X W P