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Can someone please help me with this question? My professor highlighted the correct answer in yellow, I am just not sure how she got there..

Output produced in one growing season

Corn

Soybeans

Iowa

30

45

Nebraska

40

80

lowa and Nebraska can both produce corn and soybeans, and can switch between the production of corn and soybeans at a constan

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Answer #1

Trade is mutually beneficial when price lies between the opportunity costs of two regions.

Opportunity cost of 1 bushel of corn in Iowa = 45/30 = 1.5 bushels of soybean ( = max. production of soybean/ max. production of corn)

Opportunity cost of 1 bushel of corn in Nebraska = 80/40 = 2 bushels of soybean

option d is correct (the price lies between the opportunity costs of Nebraska and Iowa)

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