Give typed solution full explanation

This page has a total of 3 questions. Each question is worth 2.5 points for a total of 7.5 points on this page.

Use the following information to answer the questions below:

China requires 3 hours to produce 1 ton of rice and 9 to produce 1 ton of lentils.

India requires 6 hours to produce 1 ton of rice and 3 to produce 1 ton of lentils.

Question 1:

What is the opportunity cost of rice for both nations? (Round your answer 2 decimal places)

The opportunity cost of 1 ton of rice is how much (tons of lentils, tons of rice, or dollars) in China.

Question 2:

Who should specialize in the production of lentils?

Should China or India produce lentils.

Question 3:

If the terms of trade were 1 ton of rice for 3 tons of lentils, would the countries engage in trade?

No.

Yes. India will export rice and import lentils.

Yes. China will export rice and import lentils.