i need Solution of 4,5,6 part Q2: There are two countries named Lilliput and Brobdingnag. We have theproduction possibilities tables for apples and bananas for both countries. Usethis data to fill in the blanks below.|Lilliput Production Possibilities:Brobdingnag Production Possibilities:Production AlternativesProduction AltermativesProduction (Ibs)ABCD EApplesBananasProduction(lbs)ApplesABCD75 60 45 30FE403224168.154812 16 20Bananas10 15 20 25la. Which country has absolute advantage in production of the following good?Please state the name of the country in front of each good. Bananas:Your answer1b. Which country has absolute advantage in production of the following good?Please state the name of the country in front of each good. Apples:Your answer2a. In Lilliput, the cost of producing: 1 apple is:bananas. 4. The cost of producing 1 apple is lower in thecountry.Your answer5. The cost of producing 1 banana is lower in thecountry.Your answer6. Lilliput has a comparative advantage in the production ofYour answer7. Brobdingnag has a comparative advantage in the production ofYour answer

International trade refers to the exchange of goods and services outside the country with different…

4. The cost of producing 1 apple is lower in the country. Your answer 5. The cost of producing 1 banana is lower in the country. Your answer 6. Lilliput has a comparative advantage in the production of Your answer

4. The cost of producing 1 apple is lower in the country. Your answer 5. The cost of producing 1 banana is lower in the country. Your answer 6. Lilliput has a comparative advantage in the production of Your answer

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

i need Solution of 4,5,6 part

Q2: There are two countries named Lilliput and Brobdingnag. We have the
production possibilities tables for apples and bananas for both countries. Use
this data to fill in the blanks below.
|Lilliput Production Possibilities:
Brobdingnag Production Possibilities:
Production Alternatives
Production Altermatives
Production (Ibs)ABCD E
Apples
Bananas
Production(lbs)
Apples
ABCD
75 60 45 30
F
E
40
32
24
16
8.
15
4
8
12 16 20
Bananas
10 15 20 25
la. Which country has absolute advantage in production of the following good?
Please state the name of the country in front of each good. Bananas:
Your answer
1b. Which country has absolute advantage in production of the following good?
Please state the name of the country in front of each good. Apples:
Your answer
2a. In Lilliput, the cost of producing: 1 apple is:
bananas.

4. The cost of producing 1 apple is lower in the
country.
Your answer
5. The cost of producing 1 banana is lower in the
country.
Your answer
6. Lilliput has a comparative advantage in the production of
Your answer
7. Brobdingnag has a comparative advantage in the production of
Your answer

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