Question: WORKING WITH NUMBERS AND GRAPHS 1. Using the data in the accompanying table, answer the following questions: a. For which good does Canada have

WORKING WITH NUMBERS AND GRAPHS 1. Using the data in the accompanying table, answer the following questions: a. For which good does Canada have a comparative advantage? Points on Production Possibilities b. For which good does Italy have a comparative advantage? c. What might be a set of favorable terms of trade for the two countries? d. Prove that both countries would be better off in the specialization-trade case than in the no-specialization-no-trade case. Canada Italy Frontier Good X Good Y Good X Good Y ABCD 150 100 50 0 0222 90 25 60 50 75 2830 0 60 30 120 180

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