Question: Application: Part 4. You are given labor hours for two countries, Nigeria and Brazil (table below): Draw PPFs below... Labor hours Tablets (* Ye Cell

Application: Part 4. You are given labor hours for two countries, Nigeria and Brazil (table below): Draw PPFs below... Labor hours Tablets (* Ye Cell phone (*X" Axis) Axis Nigeri 10 5 Brazil 2 B a. Draw PPF for each country on separate graphs. Show efficient point (mid-point) on each graph; label correctly, (attach your drawing) b. Draw PPFs for Nigeria and Brazil on the same graph; show on the graph terms of trade (TOT), and other labels. (attach your graph) C. Absolute Advantage in Production. A nation (or country) has an absolute advantage in the production of a good if, compared to another good, It uses fewer resources to produce. Now, which country has Absolute Advantage in producing Cell Phone? Tablets? d. Show in table above, opportunity costs of producing Tablets and Cell Phone in each country e. A country has a comparative advantage in the production of a good compared to another county, If its opportunity cost of producing that good (in terms of another good) is lower than the other country's opportunity cost (of producing the same good.). Now, which country has Comparative Advantage in producing Cell phones? Tablets? f. Fill the spaces in the table below with: the numbers of Tablets and Cell Phones before trade, after trade, and painloss from trading. Nigeria Brazil Tablets Cell Phones Tablets Cell Phones Before trade During Trade Effect of trade Part b. [a] Assume market price for coffee in the USA (Figure 1) is $8. The Consumer Surplus is $ ; Producer Surplus is $ and the Net Benefit to the USA society is $ Brazil. .Figure 1: Coffee market in USAFigure 2: Market for soccer ball in
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