The table given below shows the number of labor hours required to produce 1 umbrella and 1 bushel of corn in the U.K. and the Rest of the World. If the U.K. and the Rest of the World begin to trade with each other, the international price of umbrellas will lie between _____ and _____. $$\begin{array} { | c | c | c | }
\hline \text { Labor hours to make: } & \text { In the Urited Kingdorn } & \text { In the Rest of the World } \
\hline \text { l umbrella } & 3.00 & 2.00 \
\hline \text { 1 bushel of corn} & 1.00 & 0.25 \
\hline
\end{array}$$
A)1/3 of a bushel of corn per umbrella; 3 bushels of corn per umbrella
B)3 bushels of corn per umbrella; 8 bushels of corn per umbrella
C)1/8 of a bushel of corn per umbrella; 1/3 of a bushel of corn per umbrella
D)1/8 of a bushel of corn per umbrella; 8 bushels of corn per umbrella

Question

The table given below shows the number of labor hours required to produce 1 umbrella and 1 bushel of corn in the U.K. and the Rest of the World. If the U.K. and the Rest of the World begin to trade with each other, the international price of umbrellas will lie between _____ and _____. $$\begin{array} { | c | c | c | } 
\hline \text { Labor hours to make: } & \text { In the Urited Kingdorn } & \text { In the Rest of the World } \
\hline \text { l umbrella } & 3.00 & 2.00 \
\hline \text { 1 bushel of corn} & 1.00 & 0.25 \
\hline
\end{array}$$
A)1/3 of a bushel of corn per umbrella; 3 bushels of corn per umbrella
B)3 bushels of corn per umbrella; 8 bushels of corn per umbrella
C)1/8 of a bushel of corn per umbrella; 1/3 of a bushel of corn per umbrella
D)1/8 of a bushel of corn per umbrella; 8 bushels of corn per umbrella

Quizplus · Accepted Answer

The Answer of The table given below shows the number of labor hours required to produce 1 umbrella and 1 bushel of corn in the U.K. and the Rest of the World. If the U.K. and the Rest of the World begin to trade with each other, the international price of umbrellas will lie between _____ and _____. $$\begin{array} { | c | c | c | } 
\hline \text { Labor hours to make: } & \text { In the Urited Kingdorn } & \text { In the Rest of the World } \
\hline \text { l umbrella } & 3.00 & 2.00 \
\hline \text { 1 bushel of corn} & 1.00 & 0.25 \
\hline
\end{array}$$
A)1/3 of a bushel of corn per umbrella; 3 bushels of corn per umbrella
B)3 bushels of corn per umbrella; 8 bushels of corn per umbrella
C)1/8 of a bushel of corn per umbrella; 1/3 of a bushel of corn per umbrella
D)1/8 of a bushel of corn per umbrella; 8 bushels of corn per umbrella

The Table Given Below Shows the Number of Labor Hours