Question

The U.S. iron mines are currently located in Michigan and Minnesota. The U.S. is one of the largest consumers of steel. According to the five economic principles, it makes good economic sense to_____.
a)  sell the iron ore to the highest bidder.
b) ship the ore to India, where labor is super cheap.
c) open a steel mill near Detroit, Michigan, where there are a lot of skilled laborers.
d) stop producing steel and iron

Answer 1

Answer is letter C because that is the best answer

Answer 2

I believe the answer is: c) open a steel mill near Detroit, Michigan, where there are a lot of skilled laborers.

An increase in Skilled laborers usually heavily correlated with an increase in production efficiency. They tend to be really dedicated to their job, and possess high level creativity that give the companies with new method of strategy for their operations.