Question: Problems: 50 points 1. (10 points) Labor Inputs 100 120 Wheat Clothing Country United States Brazil Answer the following: a. Who has the absolute advantage

Problems: 50 points 1. (10 points) Labor Inputs 100 120 Wheat Clothing Country United States Brazil Answer the following: a. Who has the absolute advantage in which good? b. What is the opportunity cost of wheat in the US? in Brazil? c. What is the opportunity cost of clothing in the US? in Brazil? d. Who has the comparative advantage in which good? e. What are the limits of the post-trade relative price of wheat? Suppose the actual post-trade relative price of wheat to clothing is 3. Who gains from trade? f

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