Question: Q1. Based on the information below, please respond to the following questions (arepresents the unit labor requirement of the corresponding product): North South Q1.1

Q1. Based on the information below, please respond to the following questions (arepresents the unit labor requirement of the corresponding product): North South Q1.1 - Which nation (N or S) has a competitive advantage in iPhone production? Predict the patten of North-South trade. Q1.2 - Draw the line of product specialization. Q1.3 - Draw the graph showing the North Country's welfare gain (before vs. after trade and mark imports, exports). Q2 - Solve the following Utility maximization prob lem XiPhone iPad 5 5 10 5 max U = iPhone0.5 . iPad0.5 s.t. 1000 iPhone +500iPad = 10,000 What's the optimal consumption on iPhone and iPad?

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