Production and consumption of Smartphones and Smart cars for the Republic of Westein and Republic of Eastein are shown below. Use the information and your answers in question 2 to answer the questions below: Westein Eastein Output per hour of worked Smartcar 750 4500 Smart Phone 500 750 a) If both countries specialize, determine the maximum quantity that can be produced. b) If the term of trade is 1 smartphone to 1 smart car, determine the gains from trade. c) For both countries, use a simple labour demand and supply graph to show the impact of specialization and trade on the wage of workers in the smart car industry.

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