(Solved): Refer to Figure 3-1. The opportunity cost of 1 bushel of corn is \( 4 / 5 \) bushel of wheat for Pa ...

Refer to Figure 3-1. The opportunity cost of 1 bushel of corn is \( 4 / 5 \) bushel of wheat for Paul and \( 3 / 2 \) bushels of wheat for Cliff; thus, Paul has the comparative advantage in growing corn. \( 4 / 5 \) bushel of wheat for Paul and \( 3 / 2 \) bushels of wheat for Cliff; thus, Cliff has the comparative advantage in growing corn. \( 5 / 4 \) bushels of wheat for Paul and \( 2 / 3 \) bushel of wheat for Cliff; thus, Paul has the comparative advantage in growing corn. \( 5 / 4 \) bushels of wheat for Paul and \( 2 / 3 \) bushel of wheat for Cliff; thus, Cliff has the comparative advantage in growing corn. Assume both Paul and Cliff divide their time equally between the production of corn and wheat, and they do not trade. If they are the only producers of wheat and corn, then total production of wheat and corn is 8 bushels of wheat and 7 bushels of corn. 7 bushels of wheat and 6 bushels of corn. 6 bushels of wheat and 8 bushels of corn. 7 bushels of wheat and 7 bushels of corn. Refer to Figure 3-1. Which of the following statements is correct? 8 Paul has an absolute advantage in both wheat and corn. Paul has an absolute advantage in wheat and Cliff has an absolute advantage in corn. Cliff has an absolute advantage in wheat and Paul has an absolute advantage in corn. Cliff has an absolute advantage in both wheat and corn.