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:
Time to produce: New England - Middle Colonies
1 ton of barley: 4 hours - 5 hours
1 ton of milk: 3 hours - 6 hours
a. New England produces both barley and milk.
b. New England produces barley and the Middle Colonies produce milk.
c. New England produces milk and the Middle Colonies produce barley. d. There is insufficient information given to determine comparative advantage.