Question: Can anyone help with this task please 2. Use the Ricardian model of international trade to analyze the following case of trade liberalization between the
Can anyone help with this task please

2. Use the Ricardian model of international trade to analyze the following case of trade liberalization between the European Union (EU) and China. Suppose that there are two goods: cheese and pepper. Assume that the EU needs 10 labor hours to produce 1kg of cheese and 20 labor hours to produce 1kg of pepper. China, on the other hand, needs 20 labor hours to produce 1kg of cheese and 5 labor hours to produce 1kg of pepper. a) Describe the relative autarky price of cheese in the EU and China, respectively. Explain your answer. b) If the two countries start to trade, what will the pattern of trade be? Explain your answer. c) Do the countries gain or lose from trade? Explain your answer. d) Suppose that China suddenly experiences a technological improvement in cheese production and is now able to produce 1kg of cheese using only 2.5 labor hours. What will the new pattern of trade be? Explain your
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