Directions: Answer the following question. Your answer must be typewritten but the graph may be hand...

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Directions: Answer the following question. Your answer must be typewritten but the graph may be hand drawn. This assignment is due at the beginning of class on Wednesday, February 7. The table below shows the production possibilities of 2 countries, Y and Z, that produce 2 goods Land M. Country / Good X Y L 3 5 M 4 7 Draw country Y's production possibilities frontier and show that it can consume outside of that production possibilities frontier if it specializes according to comparative advantage and trades with country X. Provide a complete explanation for your work. Directions: Answer the following question. Your answer must be typewritten but the graph may be hand drawn. This assignment is due at the beginning of class on Wednesday, February 7. The table below shows the production possibilities of 2 countries, Y and Z, that produce 2 goods Land M. Country / Good X Y L 3 5 M 4 7 Draw country Y's production possibilities frontier and show that it can consume outside of that production possibilities frontier if it specializes according to comparative advantage and trades with country X. Provide a complete explanation for your work.