2. The accompanying hypothetical production possibilities tables are for New Zealand and Spain. Each country can produce apples and plums. Plot the production possibilities data for each of the two...

I Need an explanation on question C and D. Thank you

Extracted text: 2. The accompanying hypothetical production possibilities tables are for New Zealand and Spain. Each country can produce apples and plums. Plot the production possibilities data for each of the two countries separately. Referring to your graphs, answer the following: LO2 New Zealand's Production Possibllties Table (Millions of Bushels) Production Alternatives Product B C Apples 20 40 60 Plums 15 10 Spain's Production Possibilities Table (Millions of Bushels) Production Alternatives Product U Apples 20 40 60 Plums 60 40 20 20-16 © 2021 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Chapter 20 - International Trade What is each country's cost ratio of producing plums and apples? b. Which nation should specialize in which product? c. Show the trading possibilities lines for each nation if the actual terms of trade are 1 plum for 2 apples. (Plot these lines on your graph.) d. Suppose the optimum product mixes before specialization and trade were alternative B in New Zealand and alternative S in Spain What would be the gains from specialization and trade? a.