This video shows the optimal way for firms to choose whether to manufacture a product component internally or purchase the component from an external supplier. The key is for managers to focus only on relevant costs those costs that differ among alternatives when deciding which route incurs a lower cost.
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Edspira is the creation of Michael McLaughlin, an awardwinning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a highquality business education freely available to the world.
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