Figure 2-2
Assume that U.S. agricultural land is used either to raise cattle for beef or to grow wheat. represents the production possibility frontier for beef and wheat. Between points F and G, the opportunity cost increasing wheat by two bushels equals
a.
0.25 million pounds of beef
b.
1.75 million pounds of beef
c.
0.125 pounds of beef
d.
8.0 pounds of beef
e.
0.5 pounds of beef
a
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Use the above table. If firms 3 and 4 merge, the four-firm concentration ratio will
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