According to the Following Table,if the US Trades 9 Bushels

question 30

Multiple Choice

According to the following table,if the US trades 9 bushels of wheat to the UK for 8 yards of cloth,the UK gains from trade equal:
$\begin{array}{|l|c|c|}\hline &\text { U.S. }&\text { U.K.} \\\hline \text {Wheat (bushels/hr) }& 9 & 3 \\\hline\text { Cloth (yards/hr) }& 5 & 4 \\\hline\end{array}$

• A)4 bushels of wheat
• B)3 yards of cloth
• C)4 yards of cloth
• D)3 bushels of wheat

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Definitions:

Mailbox Rule

A legal principle stating that an offer is considered accepted once the acceptance is dispatched, not when it is received by the offeror.

Acceptance

In contract law, it refers to the act of agreeing to the terms of an offer, thereby creating a binding contract.

Valid Acceptance

An agreement to the terms of an offer in contract law, which results in a binding contract between the parties.

Valid Offer

A proposal made by one party to another intending to create a legally binding agreement that is specific, definitive, and capable of acceptance.