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3] Toyota is the world's largest producer of automobiles. Toyota purchases all of its steel from steel producers. Some steel producers malre large prots. while
3] Toyota is the world's largest producer of automobiles. Toyota purchases all of its steel from steel producers. Some steel producers malre large prots. while much of the steel industry is perfectly competitive. Toyota is considering vertically integrating into steel production. TFU and explain: lGiven that Toyota goes ahead and purchases a steel producer, Toyota would he better off to purchase one of the steel producers making large prots. [5}
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