Asked by doodle bob
Why was Carnegie Steel able to offer its product more cheaply than its competitors?
Carnegie introduced the Bessemer process, which decreased the cost of production.
Carnegie cut corners in his production, lowering his costs.
Carnegie could cut his costs because he owned the supply of raw materials and the means of production and distribution.
Carnegie made an inferior product, so it was less expensive to produce.
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Carnegie could cut his costs because he owned the supply of raw materials and the means of production and distribution.
Explanation: Carnegie used vertical integration—control of iron ore and coal mines, railroads and ships, and his own mills—plus economies of scale and efficient management (and adoption of processes like the Bessemer method) to lower unit costs. He did not rely on producing an inferior product or simply "cutting corners."
Explanation: Carnegie used vertical integration—control of iron ore and coal mines, railroads and ships, and his own mills—plus economies of scale and efficient management (and adoption of processes like the Bessemer method) to lower unit costs. He did not rely on producing an inferior product or simply "cutting corners."
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