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Question: infoassume thatit takes the us 150 units of labor to...

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InfoAssume thatit takes the US 150 units of labor to produce a table and 30 units of labor to produce a chair Assume it takes the Netherlands 100 units of labor to produce a table and 10 units of labor to produce a chair that each country has 4800 units of labor and before trade, each splits their labor evenly between chair and table production Assume that when the countries decide to trade, the country specializing in production specializes in table production only. that when the countries decide to trade, the country that in chair production uses 1000 units of labor for table production the rest (3800 units) for chair production. Assume that when the countries trade, there are a total of 15 tables traded at a rate of 7 chairs per table As -US SPECIALIZES IN TABLE PRODUCTION NETHERLANDS SPECIALIZES IN CHAIR PRODUCTION QUESTIONS 1. After Trade, How many tables Does the US consume? 2. After Trade, How many chairs does the US consume? 3. After Trade, how many tables does the Netherlands Consume? 4. After Trade, How many chairs does the Netherlands Consume? Trade chair Wethesland S Chair
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