Question 18 4 pts Use the information below to answer questions 18-22. Assume there are only 2 countries, the US and Mexico. Further, assume that each country can only produce 2 goods, tomatoes and strawberries, and that each country has a total of 5 hours available to spend on production. For the US, every hour spent producing tomatoes would yield 4 pounds o tomato and every hour spent producing strawberries would yield 1 pound of strawberry. For Mexico, every hour spent producing tomatoes would yield 2 pounds of tomato and every hour spent producing strawberries would yield 2 pounds of strawberries. What is the opportunity cost of producing 1 pound of tomatoes for the US? 2 pounds of strawberry o 1 pound of strawberry 0.25 pounds of strawberry 0.5 pounds of strawberry 4 pounds of strawberry Question 19 What is the opportunity cost of producing 1 pound of strawberries for Mexico? o 1 pound of tomato 0.5 pounds of tomato O 0.25 pounds of tomato O 2 pounds of tomato 04 pounds of tomato D Question 20 Which of the following statements is correct? (select all that apply) Mexico has a comparative advantage in the production of strawberries The US has a comparative advantage in the production of tomatoes Mexico has a comparative advantage in the production of tomatoes The US has a comparative advantage in the production of strawberries D Question 21 Which of the following statements is correct? (select all that apply) The US has an absolute advantage in the production of strawberries The US has an absolute advantage in the production of tomatoes Mexico has an absolute advantage in the production of tomatoes Mexico has an absolute advantage in the production of strawberries 4 pt Question 22 How can the US and Mexico benefit from trade? The US should specialize in producing tomatoes and Mexico should specialize in producing strawberries Both countries should specialize in producing strawberries The two countries in this case cannot benefit from trade Both countries should specialize in producing tomatoes The US should specialize in producing strawberries and Mexico should specialize in producing tomatoes