help help help asap please Microeconomics 1401 City Tech, CUNY Fall 2019 3) Comparative advantage (international trade): Suose that after the recent e anche recent 20 meeting in Buenos Aires the United States (US) and China has declared a hina has declared Thce and are back trading with one ce” and we to types of goods iPhones and drones. Each country produces a ber The two countries prude p es of dil hones and drone the following relative asts: Country Phones Drones 15 China which country has absolute advantage in the production of iPhones and drones? b) Which country has absolute disadvantage in the production of iPhones and drones? c) What is the price of producing iPhones for the US? What is the price of producing iPhones for China? d) What is the price of producing drones for the US? What is the price of producing drones for China? c) Which country has the comparative advantage in producing iPhones? Likewise, which country has a comparative advantage in producing drones? 1) Should the US and China engage in international trade given the relative prices of goods produced? And why? Explain.

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