Q3. Which country has a comparative advantage in producing shoes? With international trade, explain which country would export shoes and how the price of shoes in the importing country and the quantity produced by the importing country would change. Explain which country gains from this trade. 1) At McDonald's, no reservations are accepted; at Panorama Restaurant at the St. Louis Art Museum, reservations are accepted; at Niche, reservations are essential. Use this information to work Problems 1 to 3. a). Describe the method of allocating table resources in these three restaurants b). Why do you think restaurants have different reservation policies, and why might each restaurant be using an efficient allocation method? c) Why don't all restaurants use the market price to allocate their tables?

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