||a. Production of steel by electric furnace is a relatively new development (beginning in the late 1970s) and accounts for a growing fraction of total steel sold. What is your prediction about the future production share of this method? Explain. b. If there were a new energy crisis (causing energy prices to triple), how would this affect steel makersâ?? choices of production methods? c. Suppose the price of steel scrap is expected to fall significantly over the next five years. What effect would this have on the choice of productionmethod?