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please answer asap FIN 250: International Finance Fall 2021 1) $uppose we have two...

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FIN 250: International Finance Fall 2021 1) $uppose we have two countries, X and Y. Each country produces only food and textiles. They do not trade with one another. Fill out the table based on the given information. Country Total X Y 70 60 30 40 17 5 5 2 I. Units of input (000,000) Food Textiles II. Output per unit of input (lbs. or yards) Food Textiles III. Total output (lbs. or yards) (000,000) Food Textiles IV. Consumption (lbs. or yards) (000,000) Food Textiles - a. Which country has the absolute advantage in the production of both products? b. Which country has the opportunity cost in producing food? Which country has the opportunity cost in producing textiles? FIN 250: International Finance Fall 2021 C. Suppose free trade is allowed. Develop a scenario that will benefit the citizens of both countries. Total Country Y 5 ? 17 5 NU 2 II. Units of input (000,000) Food Textiles III. Output per unit of input (lbs. or yards) Food Textiles IV. Total output (lbs. or yards) (000,000) Food Textiles V. Consumption (lbs. or yards) (000,000) Food Textiles = IL IL

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