BASIL (Millions of pounds) 96 84 72 60 48 36 24 12 PPF Yosemite ? BASIL (Millions of pounds) 96 84 72 PPF 60 48 36 24 12 Rainier 0 0 0 12 24 36 48 60 72 84 96 CORN (Millions of pounds) 0 12 24 36 48 60 72 84 96 CORN (Millions of pounds) ? basil Yosemite has a comparative advantage in the production of production of corn , while Rainier has a comparative advantage in the . Suppose that Yosemite and Rainier specialize in the production of the goods in which each has a comparative advantage. After specialization, the two countries can produce a total of million pounds of corn and million pounds of basil. Suppose that Yosemite and Rainier agree to trade. Each country focuses its resources on producing only the good in which it has a comparative advantage. The countries decide to exchange 24 million pounds of corn for 24 million pounds of basil. This ratio of goods is known as the price of trade between Yosemite and Rainier.

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