Refer to the above figure. Assume that only two goods can be ...

[asd123]

Refer to the above figure. Assume that only two goods can be produced in the economy. Which of the following statements is TRUE?
 
  A) Points a, b, and c are all obtainable points of production.
  B) Points a and b are obtainable points of production.
  C) Points b and c are obtainable points of production.
  D) Only point b is an obtainable and efficient point of production.

Question 2

Suppose a ten firm industry has total sales of 35 million per year. The largest firm have sales of 10 million, the third largest firm has sales of 4 million, and the fourth largest firm has sales of 2 million.
 
  If fifth through tenth largest firms combined have annual sales of 12 million, the four-firm concentration ratio for this industry is A) 45.7 percent.
  B) 80 percent.
  C) 65.7 percent.
  D) none of the above.

[sarah_brady415]

Answer to Question 1

C

Answer to Question 2

C