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Labour hours needed to make one unit: Amount produced in 40 hours: Cheese Bread Cheese Bread England 1 2 40 20 Spain 2 8 20
Labour hours needed to make one unit: | Amount produced in 40 hours: | |||
Cheese | Bread | Cheese | Bread | |
England | 1 | 2 | 40 | 20 |
Spain | 2 | 8 | 20 | 5 |
Refer to Table 3-5. If England and Spain specialize and trade according to their respective comparative advantage, who gains in the short run in England?
Select one:
a. consumers who like cheese
b. owners of milk-producing companies
c. owners of cheese-producing companies
d. consumers who like bread
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