The table below shows the number of labor hours required to produce one umbrella and one bushel of corn in the United Kingdom and the rest of the world. If the United Kingdom and the rest of the world begin to trade with each other, the international price of corn will lie between ________ and Labor hours to make:In the United KingdomIn the Rest of the World1 umbrella3.002.001 bushel of corn1.000.25
A. three umbrellas per bushel of corn; eight umbrellas per bushel of corn.
B. 1/8 of an umbrella per bushel of corn; 1/3 of an umbrella per bushel of corn.
C. 1/8 of an umbrella per bushel of corn; eight umbrellas per bushel of corn.
D. 1/3 of an umbrella per bushel of corn; three umbrellas per bushel of corn.
Answer: B
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