1. The following table contains missing data. Marginal Opportunity product of labor wheat cloth Home Foreign...

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1. The following table contains missing data. Marginal Opportunity product of labor wheat cloth Home Foreign 1 a. Fill in the table. 4 1 Home Foreign cost wheat cloth 0.5 No-Trade equilibrium Labor endow ment 50 60 b. Write down the algebraic expressions of Home's PPF and Foreign's PPF. Trade equilibrium No-trade equilibrium 2. To continue from (2). Suppose consumers in each country always spend equal amount of money on each good. Fill in the following table. Show your steps. (Note: Qw means the output of wheat; Dw means the consumption of wheat, etc.) Pw/Pc w/Pw w/Pc Qw=DwQc=Dc Qw Qc Dw Dc Pw/Pc w/Pw w/Pc Complete specialization or not? 1. The following table contains missing data. Marginal Opportunity product of labor wheat cloth Home Foreign 1 a. Fill in the table. 4 1 Home Foreign cost wheat cloth 0.5 No-Trade equilibrium Labor endow ment 50 60 b. Write down the algebraic expressions of Home's PPF and Foreign's PPF. Trade equilibrium No-trade equilibrium 2. To continue from (2). Suppose consumers in each country always spend equal amount of money on each good. Fill in the following table. Show your steps. (Note: Qw means the output of wheat; Dw means the consumption of wheat, etc.) Pw/Pc w/Pw w/Pc Qw=DwQc=Dc Qw Qc Dw Dc Pw/Pc w/Pw w/Pc Complete specialization or not?

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To answer your questions 1a Filling in the table Heres the table with missing values filled in Labor ... View the full answer