Question: Consider the no-trade input/output situation presented in the following table for countries X and Y. Assuming that free trade is allowed, develop a scenario that

Consider the no-trade input/output situation presented in the following table for countries X and Y. Assuming that free trade is allowed, develop a scenario that will benefit the citizens of bothcountries.

Input/Output without Trade B. Total I. Units of input (000,000) Food Textiles 70 40 60 30 Il. Output per unit of input (lbs or yards) "I, Total output (lbs. or yards) (000,000) V. Consumption (lbs. or yards) (000,000) 5 2 Textiles Food Textiles 1.190 200 300 60 1,490 260 Food Textiles 1,90 300 60 1.490 260 200

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