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Category > Economics Posted 03 May 2017 My Price 4.00

The costs of producing steel

The costs of producing steel have declines substantially from building a conventional hot-rolled steel mill down to the new minimill technology that requires only scrap metal, an electric furnace, and 300 workers rather than iron ore materials, enormous blast furnaces, rolling mills, reheating furnaces, and thousands of workers. What effect on the potential industry profitability would Porter’s Five Forces framework suggest this new technology had? Why?

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SuperTutor
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Status NEW Posted 03 May 2017 01:05 AM My Price 4.00

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