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Suppose that Greece and Sweden both produce fish and stained glass

Economics

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Suppose that Greece and Sweden both produce fish and stained glass. Greece's opportunity cost of producing a pane of stained glass is 4 pounds of fish while Sweden's opportunity cost of producing a pane of stained glass is 8 pounds of fish. has a comparative advantage in the By comparing the opportunity cost of producing stained glass in the two countries, you can tell that Greece production of stained glass and Sweden has a comparative advantage in the production of fish. Suppose that Greece and Sweden consider trading stained glass and fish with each other. Greece can gain from specialization and trade as long as it receives more than 4 pounds of fish for each pane of stained glass it exports to Sweden. Similarly, Sweden can gain from trade as long as it receives more than 1/8 pane of stained glass for each pound of fish it exports to Greece. Based on your answer to the last question, which of the following terms of trade (that is, price of stained glass in terms of fish) would allow both Sweden and Greece to gain from trade? Check all that apply. 7 pounds of fish per pane of stained glass 6 pounds of fish per pane of stained glass 2 pounds of fish per pane of stained glass 15 pounds of fish per pane of stained glass