3. Consider another Ricardian example, using standard Ricardian assumptions: Labor Hours per Labor Hours per BottleI of Wine Kilogram of Cheese Uintland 'l 5 '10 Moonitod Republic '10 4 Vintland has 3D million hours of labor in total per year. Moonited Republic has 2i} million hours of labor per year. a. Which country has an absolute advantage in wine? In cheese? b. Which country has a comparative advantage in wine? In cheese? :3. Graph each country's productionvpossihilityr curve. Show the no-trade production point for each country, assuming that with no trade Vintland consumes 1.5 million kilos of cheese and Moonited Republic consumes 3 million kilos of cheese. d. When trade is opened, which country exports which good? If the equilibrium interna~ tional price ratio is lei bottle of wine per kilo of cheese, what happens to production in each country\"? a. In this free-trade equilibrium, 2 million kilos of cheese and 1 million bottles of wine are traded. What is the consumption point in each country with free trade? Show this graphically. f Does each country gain from trade? Explain, referring to your graphs as is appropriate