The following hypothetical production possibilities tables are for china and the united states. assume that before specialization and trade the optimal product mix for china is alternative d and for the united states is alternative s. a. are comparative-cost conditions such that the two countries should specialize? if so, what product should each produce? b. what is the total gain in apparel and chemical output that would result from such specialization? c. what are the limits of the terms of trade? d. suppose that the actual terms of trade are 1 unit of apparel for 1½ units of chemicals and that 20,000 units of apparel are exchanged for 30 units of chemicals. what are the gains from specialization and trade for each nation?

Horace society is planning its annual western fair raceway gala. the gala committee has assembled the following expected costs for the event: dinner (per person) $10 gaming token and program (per person) $2 prize payouts $4,300 tickets and advertising $800 private box suite rental $1,700 lottery licenses $200 the committee members would like to charge $40 per person for the evening’s activities.required: 1. what is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. assume that last year only 200 persons attended the dinner-dance. if the same number attend this year, what price per ticket must be charged in order to break even? 3. refer to the original data ($40 ticket price per person). prepare a cvp graph for the dinner- dance from zero tickets up to 600 tickets sold.