For the following questions use the information from the production possibilities for countries X and Y to help you answer them. (Each standard question is worth 5 points. Extra credit questions are worth 2 points each). 1. Define Absolute Advantage. 2. Which country has the absolute advantage in tomato production? How did you decide this? 3. Which country has the absolute advantage in pepper production? How did you decide this? 4. Define Comparative Advantage. 5. What is Country X’s opportunity cost of producing 1 additional tomato? Show your work. 6. What is Country X’s opportunity cost of producing 1 additional pepper? Show your work. 7. What is Country Y’s opportunity cost of producing 1 additional tomato? Show your work. 8. What is Country Y’s opportunity cost of producing 1 additional pepper? Show your work. 9. Which country has the comparative advantage in tomato production? How did you decide this? 10. Which country has the comparative advantage in pepper production? How did you decide this? 11. What is the most peppers Country X would ever pay for 1 tomato? How do you know this? 12. What is the most tomatoes Country X would ever pay for 1 pepper? How do you know this? 13. What is the least amount of peppers Country X would ever accept for 1 tomato? How do you know this? 14. What is the least amount of tomatoes Country X would ever accept for 1 pepper? How do you know this? 15. What is the most peppers Country Y would ever pay for 1 tomato? How do you know this? 16. What is the most tomatoes Country Y would ever pay for 1 pepper? How do you know this? 17. What is the least amount of peppers Country Y would ever accept for 1 tomato? How do you know this? 18. What is the least amount of tomatoes Country Y would ever accept for 1 pepper? How do you know this? 19. What should Countries X and Y specialize in producing? How did you decide this? 20. Based on the countries’ specialization, what would be the range for acceptable terms of trade? (Fill in t