AB and A'B' represents a profuction possibility frontiers. There are two countries viz. 1 and 2. Country 1and 2 assumed to be capital and labour abundant respectively. While goods X and Y are considered as labour and capital intensive respectively. Let P and P' represents autarky representation for the two countries respectively and let Q and Q' represent the equilibrium after trade respectively. Each nation after trade consumes at point E on indifference curve IC. Further assuming all the assumptions of H- O theory hold. Answer the following questions
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