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Bethlehem and Youngstown, two major steel producers, accounted for… Bethlehem and Youngstown, two major steel producers, accounted for about21% of the national steel market in the late 1950s, when they proposed tomerge.a. Should the two steel companies have been allowed to merge? Why or why not?b. According to the companies, Bethlehem sold most of its output in theEast, whereas Youngstown sold most of its output in the Midwest. Wasthis fact relevant? Why or why not?c. The district court did not allow Bethlehem and Youngstown to merge.Yet in 1985 (as we saw in problem 1), the Department of Transportationallowed United Airlines (with about 7% of the service between Japanand the U.S. mainland) to acquire Pan Am’s Pacifi c Division (with about19%). How can you explain this Accounting Business Managerial Accounting

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