Sandals Soybeans Country (Pairs per hour of labor) (Bushels per hour of labor) Peru 12 48 Uruguay 16 32 Consider the countries Peru and Uruguay. They each have 4 million labor hours available per week...

Extracted text: Sandals Soybeans Country (Pairs per hour of labor) (Bushels per hour of labor) Peru 12 48 Uruguay 16 32 Consider the countries Peru and Uruguay. They each have 4 million labor hours available per week that they can use to produce sandals, soybeans, or a combination of both. The following table shows the amount of sandals or soybeans that can be produced using 1 hour of labor. If the two countries were to trade, a possible exchange rate would be 3 pairs of sandals to 9 bushels of soybeans. 3 pairs of sandals to 6 bushels of soybeans. 3 pairs of sandals to 3 bushels of soybeans. 3 pairs of sandals to 12 bushels of soybeans. O o o O