Suppose the only input in agriculture is time and the following chart depicts the time it took for the Middle Colonies and New England to produce barley and milk.Using the principle of comparative advantage,what would be the most efficient solution?
Time Required to Produce:
$\begin{array}{ccc}
\text { Time to produce: } & \begin{array}{c}
\text { New } \
\text { England }
\end{array} & \begin{array}{c}
\text { Middle } \
\text { Colonies }
\end{array} \
\hline 1 \text { ton of barley } & 4 \text { hours } & 5 \text { hours } \
1 \text { ton of milk } & 3 \text { hours } & 6 \text { hours } \
\hline
\end{array}$

Question

Quizplus · Accepted Answer

New England has a lower opportunity cost for producing milk (3 hours vs. 4 hours for barley), while the Middle Colonies have a lower opportunity cost for producing barley (5 hours vs. 6 hours for milk). Thus, New England should produce milk, and the Middle Colonies should produce barley.

Suppose the Only Input in Agriculture Is Time and the Following