$873.[9$ points$)$ The annual output of beef and wheat are given in the table. Output produced in $1$ year $1$ Beef $($good x$)$ Wheat $($good$)3\mathrm{.}55100300$ Home worker Foreign worker $202033$ a$.$ Calculate the opportunity costs of producing these two goods by the two countries. Use your calculations to determine the comparative advantage for each country has. $(1)2\mathrm{.}5$ The opportunity cost of producing $1$ unit of Beef $($good x$)$ Wheat $($good Y$)2.$ Home worker Foreign worker $1\mathrm{.}5$ Comparative Advantage $1$ b$.$ Home has $2$ units of labor whereas Foreign has $10$ units of labor. Determine the RS of beef in the world at different relative prices of beef after the two countries trade with each other. Use your calculations to plot the curve of the RS of beef. $(4)0\mathrm{.}50$ Foreign's output mix RS of beef in the world $($RS of X in the world$)$ X Pbeef Px Home's output mix Pwheat Py $00\mathrm{.}20\mathrm{.}40\mathrm{.}60\mathrm{.}811\mathrm{.}2$ C$.$ Suppose the RD for beef is given in the table. Poees $\_$Px RD for beef in the world $=$ Pwheat Py beef Pwbeat Py $112123131)$ Plot the RD curve for beef in the world. $1)2)$ Use the RS$-$and$-$RD diagram to determine the free$-$trade equilibrium relative price of beef. $(1)9$ d$.$ Suppose Foreign labor endowment increases from $10$ units to $15$ units. $1)$ Calculate the new values of the RS of beef. Use an extra piece of paper if needed. Plot the new RS curve of beef in the world. $2)$ Determine the new equilibrium relative price of beef using a new RS$-$and$-$RD diagram. $3)$ Use the change in the terms of trade of each country to explain how its gains from trade change due to the change in the equilibrium relative price of beef. $(3)3\mathrm{.}5332\mathrm{.}5$ N $1\mathrm{.}510\mathrm{.}500\mathrm{.}20\mathrm{.}40\mathrm{.}60\mathrm{.}811\mathrm{.}2$ Home Foreign Terms of trade $($TOT$)$ The change in TOT The change in the gains from trade $1$