Who has the comparitive advantage in producing soap? Who will specialize in producing nuts? I need all of these questions answered including a graph for number 2 and maybe number 5.

Instructions Imagine these two countries have the following endowments of the only scarce factor of production (labor) Country Endowment (hours per day) Spain 300 Venezuela 600 However because of the various endowments of other factors and the productivity of labor, the tw0 countries need the amount of labor shown in the table below to produce these two products. To produce one unit of each of the products the following amounts of labor are required: Hours to produce a unit of Country Soup Nuts Spain Venezuela _ has the comparative advantage in producing soup will specialize in producing nuts _ Imagine that, before there was any trade, the two countries produced and consumed as follows: Total Daily consumption and production Country Spain Venezuela Draw the PPFs of each country for a single day, show the points of productive and allocative efciency on those PPFs for each country. When you have drawn this, either by hand or in a software program upload the drawing here. PDF or picture (jpeg) are acceptable file upload types Draw the PPFs of each country for a single day, show the points of productive and allocative efciency on those PPFs for each country. When you have drawn this, either by hand or in a software program upload the drawing here. PDF or picture (jpeg) are acceptable le upload types _ Assume that the countries now trade and therefore they specialize {use 100% of their scarce factors to produce} the product for which they have the comparative advantage. Assume they agree on a trading ratio and that Spain consumes 2/ 3rds of all the goods they produce themselves and 2/ 3rds of all the goods Venezuela produces. Complete the table below for the spaces A, B, C, D Total Daily Consumption Country Soup Nuts Answer A: Answer B: Answer C: or\"... | l | I Answer A: Answer B: Answer C: Answer D: Question 4 1 pts How much does each country export (meaning makes and trades with another country} and import (meaning receives in traded goods from another country} of each good? --f D ' Question 5 1 pts \\ Venezuela exports of and imports of D Question 5 1 pts Do you have any evidence that either or both countries have benefitted from trade? Give some numbers that demonstrate how each country is better off than it was before trade. Edit View Insert Format Tools Table 12pt " Paragraph B I U A & TV : p # O words >