Question

In the following MCQ, identify the correct option and justify.

Cost of coke contributes to the ________% to the total cost of iron making from blast furnace.

a. 25-30

b. 35-40

c. 45-50

d. 55-60

Answer 1

Cost of coke contributes 25-30% to the total cost of iron making from blast furnace. According to the journal by Smith (1908), coke contributes approximately 31.9% of the total cost of iron making from blast furnace.

Smith, J. R. (1908). The cost and the profits of steel-making in the United States. The Quarterly Journal of Economics, 22(2), 261-273.