Explain the reason why the trade pattern is the way it is

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Reference no: EM132198089

Question: Draw the production possibility frontier for each country. Which country has a comparative advantage in apples, which one in bananas? Which country has an absolute advantage? Indicate the range of the international prices within which there will be gains from trade for both countries. Now imagine that Home's technology is different. It turns out that one unit of Home labor can produce 0.2 apples or 1 banana. What would the pattern of production/trade be in this case? Explain the reason why the trade pattern is the way it is.

Reference no: EM132198089

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