Problem Set 5 Absolute and Comparative Advantage APPLE UNITEDSTATES or OUTPUT TABLE APPLES USA 150 100 MEXICO 50 100 1. Based on the above PPPs (or Output Table) for the United States and Mexico, which region has an absolute advantage in Apple production? Which region has an absolute advantage in Banana production? (20 Points) MUST BE THPED 2. Please complete the following opportunity cost table. (Hint: In order to produce one unit of Apples how many Bananas must U.S. Mexico give up and in order to produce one unit of Bananas how many Apples must U.S /Mexico give up. ) (20 Points) Opportunity Cost Table LHA Apples 3. Based on the completed Opportunity Cost Table which country has a comparative advantage in Apple production? Which region has a comparative advantage in Banana production? (20 Points)