1. (Analytical Exercise) Suppose that the United States and Canada produce clothing (C) and food (F ). The U.S. has an endowment of 200 man-hours, each of which can produce either 2 units of clothing or 2 units of food. Canada has an endowment of 300 man-hours, each of which can produce either 1 unit of clothing or 2 units of food. (a) Which country has an absolute advantage in each good?
Econ 140, Summer Session 2 2022 Problem Set 1 Due: 11:59 pm on July 30, Saturday (Pacific Time) Instructions. To get full credits you…