1. Consider the Ricardian economy: 2*2*1. The following table shows the hours of labor required to produce one unit of each good in Korea and China.
ULR Rice (hours) Wheat (hours) Labor supply (hours)
Korea 10 20 120
China 40 20 400

1-1. Calculate opportunity costs.
OC (Wheat per) Rice (Rice per) Wheat
Korea
China

1-2. Explain the pattern of trade between Korean China based on comparative advantage.




1-3. Draw PPFs for Korea and China on the same graph.